Are there any limitations on what I can give away in a will?

In Maryland, there are certain limitations on what you can give away in a will. Generally, you cannot give away certain types of assets that are considered “contraband”. This includes items such as illegal drugs, stolen goods, and weapons. Additionally, there are specific laws governing the distribution of your property when you die without a will. Property which would legally belong to your children, your spouse, or other relatives must be distributed according to those laws. In addition, you cannot give away assets that are greater in value than the assets you have. This means that if you leave a $50,000 inheritance, but you only have $20,000 in assets, you cannot give away the $50,000. Items that you own that are subject to debt, such as a car loan or a mortgage, cannot be passed on to another person through a will. Those items must be paid off first. In addition, you cannot give away items that are owned jointly by you and someone else, such as a house. Finally, there are certain types of assets which cannot be passed on to beneficiaries through a will. These include life insurance benefits, retirement accounts, and certain pension plans. These assets must be passed on according to the terms of the contract. Overall, you should always consult with an attorney before creating a will to make sure that you understand any limitations or restrictions on what can be given away in a will.

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Are there any limitations on what I can give away in a will?

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