Wills
A will is a legal document, the intention of which is to convey the wishes the writer in the distribution of his or her estate after death. Anyone over the age of 18 in the United States may write a legal will. What must always be remembered is that, after the writer of the will has passed away, his or her wishes cannot be consulted if the stated intent is unclear.Drafting a Will
In general, the following requirements must be met before a will is deemed to be legally unchallengeable:
- The writer of the will, also known as the “testator,” must clearly state that the document is his or her will. Simply stating that the document is indeed the individual’s “last will and testament” will satisfy this condition.
- The testator must state unequivocally that he or she has the right to dispose of and distribute the possessions and property mentioned in the will. In addition, he or she should express that this is being done willingly and not under any sort of duress or pressure. This is where the phrase “being in sound body and mind” originates.
- A short statement must be included in which the testator revokes any previously written wills. Therefore, all wills should be dated as well as signed.
- A completed will should be signed by at least two witnesses. It is very important that any witness not be mentioned in the will; in other words, they should not be beneficiaries. For this reason, the lawyer or notary public that the testator may contract with to help draw up the will is often used as one of the witnesses.
Naming an Executor
It is recommended that the testator assign and name an executor who will have the power to pay any taxes, fees and other expenses due from the testator’s estate. Failure to do so can result in the responsibility of these costs falling to the beneficiary.
It is estimated that approximately two-thirds of Americans do not currently have a valid will, yet the need to have a will is accepted as common knowledge. To those who want to recognize certain people who have brought joy into their lives, and who seek to avoid arguments and recriminations among their surviving relatives, having a properly written will may be the best legacy to leave.
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