The Calvert County Commission for Women and Calvert Library hosts its first financial literacy forum to discuss estate planning and wills today, Saturday, August 20, at 10 a.m. at Calvert Library Prince Frederick, Maryland.
“One of the hardest conversations is making your final wishes known to family members,” said Inez Claggett, Acting Chair of the Calvert County Commission for Women. “Family assets and property can be lost simply by failing to do so and to take steps to ensure it is legally binding under state law.”
A will is a legal document that ensures that assets belonging to you or titled in your name are distributed to persons in accordance with your wishes. In the state of Maryland, Office of the Register of Wills was created to help citizens understand the laws governing wills and estates.
“Wills give you peace of mind that your assets will be distributed to the individuals and/or organizations of your choice rather than those persons designated by the intestate laws of Maryland.” said Calvert Register of Wills Margaret Phipps.
The forum will address the basics of what you need to know and do to ensure assets wind up with your family. Topics will include:
- Who needs a will and what assets are covered
- Use of internet wills versus legal representation
- Steps to prepare for a will and the financial and legal documents you will need
- Cost of a will, estate taxes and payment of outstanding debts
- Living will and healthcare instructions
- When and how “probate” works.
Calvert Library Director Carrie Plymire called the forum, “a much needed information session on managing your assets. Anyone who owns property or financial assets can benefit from knowing the Maryland and federal laws covering your estate. The library looks forward to offering this series of financial workshops in partnership with the Commission for Women.”
The financial literacy forums are designed to equip Calvert County residents with information on a variety of topics that may affect the financial well-being of their families. Bookmark our website at http://www.co.cal.md.us/index.aspx?nid=672 for upcoming forums.