What is a will? In short, a will is an estate planning tool that let’s the court know how you want your assets distributed after your death. Since one is no longer living to direct his or her assets, a properly executed will becomes a very valuable resource to indicate the deceased person’s wishes. Wills also setup a person or multiple people who will be responsible for administering the estate and directing the distribution of the assets thereof. This person is generally called an executor of the estate, or a personal representative. While there are a few exceptions, in most jurisdictions, a will needs to be signed and dated in front of 2 witnesses who also need to have signed the document.
To further understand what a will is, we should look at each of these specific types of wills:
Self-proving Will
Simple Will
Will with a Testamentary Trust
Pour – Over Will
If you are interested in What is a Will?, you probably also might like to consider Should I Get a Trust or Will?
Disclaimer: The information provided in this blog post is for general informational purposes only and should not be construed as legal advice. This content is not provided by a law firm, and the author is not a legal professional. Laws and regulations vary by jurisdiction, and the application of laws to specific circumstances can vary widely. If you have specific legal questions or concerns, it is recommended that you consult with a qualified legal professional for advice tailored to your situation. The use of this information does not create an attorney-client relationship between the reader and the author.
1 Comment