Wills Attorney in Bangor, ME

A last will and testament (often just called a “will” for short) is a document that enshrines instructions regarding how to handle your affairs and your assets after you have passed away. Wills are generally flexible and can come in a variety of different forms, however a complete will includes details for who will execute those wishes, how they should be carried out, and more.  

At McCue Law Office, we can help you create a will that fits your life and your wishes perfectly. We are a client-focused firm that knows your estate plan needs to be built to fit your wishes, and we provide in-depth guidance and assistance with creating thorough and legally enforceable documents that protect your loved ones and your final wishes. We know that the probate process can be a hassle, so we do everything in our power to protect your loved ones and your estate so your beneficiaries receive what you leave them with minimal frustration or delay.

Call McCue Law Office today at (207) 421-9406 to discuss more about creating a will and protecting your loved ones and your assets.

A Valuable Part of a Good Estate Plan

When you pass away with a will, your estate or your designated executor will present the will to your local probate court. An executor is usually a close family member, a trusted friend, or even a family attorney (provided the attorney is not also listed as a beneficiary). Generally, the court will then authorize the executor to distribute your assets according to the will’s instructions. 

However, this process can be delayed if any additional parties dispute any portion of the will. For example, distant relatives, old acquaintances or lovers, and even outright scammers have been known to dispute wills using all sorts of tactics or claims. For this reason, it’s extremely important to keep your will detailed, updated, and current to minimize the possibility of one of these disputes causing further headaches for your loved ones.

What Does a Will Do?

While many people think of a will as the “definitive” instrument for distributing an estate after someone passes, the truth is that a will is only one aspect of a comprehensive estate plan. Wills are almost always used in conjunction with other instruments like trusts, powers of attorney, and more.

Typically, there are four groups you need to consider in a will:

• Testator, or the person who creates the will.
• Executor, who is a person you appoint to carry out (or “execute” your will).
• Witnesses, who are the people who witness you signing the will and can testify to its legitimacy, should it be challenged. Maine law requires two witnesses for a will to be valid.
• Beneficiaries, who are people you designate to receive all or part of your bequeathed estate and/or assets.

Property or assets distributed through instructions in a will may be subject to estate tax considerations, either at the state or federal level. However, some of these taxes can be avoided by placing certain assets into a trust. We highly recommend speaking with an attorney to learn more about this possibility, particularly if the value of your estate exceeds the Maine estate tax exemption of $7 million.

When Should I Update My Will?

It’s a good idea to create a will fairly early on in adulthood. After all, you begin accumulating assets early in your life, and that collection of wealth and property will typically continue to grow. However, you also never know when something may happen, either, so it is important to always be prepared. Because your life is constantly changing and evolving, it’s important for your will to change and evolve with it. 

We strongly recommend drafting a new will or modifying your current will after any of the following major life changes:

• You marry or divorce
• You come into a sudden, dramatic increase in wealth or assets, either through inheritance, business success, or any other source
• You experience a sudden, dramatic loss of assets or property
• You have another child or adopt a child
• A personal relationship with a beneficiary changes dramatically
• You suffer a life-changing health issue, such as injury or illness (which should also include creating a medical power of attorney)
• You retire or permanently change your working arrangement

If you have recently relocated to Maine from out of state, you might want to consider re-drafting your will under Maine state law! While Maine’s probate courts do honor valid wills from out of state, creating a new will within the state can help remove any legal uncertainties that could lead to difficulty in the future.

We also strongly recommend having multiple copies of your will, and always keep any valid copies under lock and key.

For more information about drafting a will for yourself, contact McCue Law Office today!