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Last Will and Testament Template - Maine
A Maine Last Will and Testament is a legal form used for the purposes of distributing an individual's property upon their death to the selected beneficiaries. The document has several main purposes and allows the individual making the will - otherwise known as the Testator - to do the following:
- Decide who gets their property;
- Decide who will manage their estate;
- Decide who will take care of any minor children, dependents or pets;
- Minimize probate and estate taxes;
- Avoid a lengthy probate process;
- Make gifts and donations;
- Set up a family trust.
The Maine Last Will (Statutory Form - § 2-514) is defined by Title 18-A, Article 2 (Intestate Succession and Wills) . According to Section 2-502 , the document is to be signed by at least two (2) or more witnesses, each of whom witnessed either the signing of the will or the Testator's acknowledgment of that signature or acknowledgment of the will. Download a ready-made form below or make your own one with our online template.
What Is a Last Will and Testament in Maine?
A Last Will gives the Testator the opportunity to distribute their estate, property and digital assets between spouses, children, partners, friends, relatives, and organizations. The Testator has the option to elect the estate's Executor. The Executor is the person - either a close friend or a professional accountant or consultant - who will be responsible for carrying out the decided-upon provisions.
There are several types of wills:
- A Testamentary Will is a formally prepared document signed in the presence of witnesses.
- A Holographic Will is a written unwitnessed will that rarely holds up in court.
- An Oral Will is a spoken testament given before witnesses.
How to Write a Last Will and Testament in Maine?
Every Testator is eligible to choose what to include in their own document. However, there are several universally-recommended important topics that should be covered. The Testator has to take the following steps when creating their will:
- Decide what property to include. List significant assets and choose the ones that are to be distributed.
- Decide who will inherit the aforementioned property. Alternate (contingent) beneficiaries must be mentioned in case the first choices do not survive the Testator.
- Choose an executor to handle the estate. The Executor must be a person who is willing to carry out the terms of the will.
- Choose a guardian for children and a caregiver for pets. This guardian must be willing to manage the children's property if the property is left to underage children or young adults.
- Sign the document in front of witnesses. The Testator's signature must be notarized as well.
- Store the document safely. The Testator must instruct their Executor on how to get access to the will when the time comes.
Download Last Will and Testament Template - Maine
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