August is National Make-A-Will Month, a reminder to take an important step toward protecting your loved ones and preserving your legacy.
If you have been putting off creating a will, you are not alone. According to surveys, many American adults do not have an estate plan. Some believe they are too young, do not own enough assets, or simply have not found the time to get started.
The truth is that every adult can benefit from having a will. Whether you are just starting your career, raising a family, or enjoying retirement, a will gives you the opportunity to make important decisions about your future.
Why Is There a National Make-A-Will Month?
National Make-A-Will Month was created to encourage individuals and families to make estate planning a priority. While no one likes to think about the unexpected, having a will in place can provide peace of mind and make a difficult time a little easier for the people you love.
A will is not just about distributing property. It is about making your wishes known and ensuring that important decisions are made by you, not left to chance.
Who Should Have a Will?
One of the biggest misconceptions about estate planning is that it is only for wealthy individuals.
In reality, a will is important for almost every adult.
You should consider creating a will if you:
- Own a home or other real estate.
- Have children or grandchildren.
- Are married or in a long-term relationship.
- Own a business.
- Have savings, investments, or personal belongings you want to pass on.
- Want to choose who will manage your estate.
No matter the size of your estate, a will allows you to clearly express your wishes.
What Happens If You Do Not Have a Will in Maine?
If you pass away without a valid will, Maine law determines how your estate is distributed. This is known as dying intestate.
Maine’s intestacy laws provide a legal framework for distributing assets, but they may not reflect your personal wishes or your family’s unique circumstances.
Without a will:
- You cannot decide who receives specific family heirlooms or sentimental items.
- Unmarried partners generally do not inherit under Maine’s intestacy laws.
- Blended families may face unintended outcomes.
- The court determines who will administer your estate if you have not named a Personal Representative.
Creating a will allows you to make these decisions for yourself instead of relying on state law.
A Will Is the Foundation of an Estate Plan
A will is one of the most important estate planning documents you can have, but it is often just the beginning.
A comprehensive estate plan may also include:
- Trusts
- Durable Powers of Attorney
- Advance Health Care Directives
- Proactive long-term care planning
Together, these tools help protect your assets, provide for your loved ones, and prepare for life’s unexpected events.
The right plan depends on your goals, your family, and your unique circumstances.
There Is No Better Time Than Now
National Make-A-Will Month is an excellent reminder to review your estate plan or create one if you have not already done so.
Life changes quickly. Marriage, children, retirement, purchasing a home, or changes in your financial situation are all good reasons to make estate planning a priority.
Taking the time to create a will today can help provide clarity and confidence for your loved ones tomorrow.
Take the First Step This August
Estate planning is one of the most meaningful gifts you can leave your family. A thoughtfully prepared will gives you the opportunity to make important decisions, protect the people you love, and create a plan that reflects your wishes.
This National Make-A-Will Month, take the first step toward protecting your future. Whether you are creating your first will or updating an existing estate plan, now is the perfect time to ensure your wishes are documented and your loved ones are prepared for whatever the future may bring.
Give is a call at (207)848-5600!
