Delineate Your Wants to Ensure They Are Followed
Also called “The Last Will and Testament” of a person, a Will is a semi-iron-clad legal document that dedicates what will happen to your possessions in the event of your death. Most people think this means that you have to be old, wealthy, or anal-retentive to have a will. Most people are wrong; everyone of legal age should have a will.
Creating a will is the single most important thing you can do to ensure that your possessions, be they great or small, are treated in accordance with your wishes. This means even if all you have is your game console and a pet cat, your will should dictate what happens to them if you were to die.
There are a few different kinds of wills. Picking the right one for you is a matter of where you are in life.
- Oral Will – These wills are used when the testator doesn’t have time to draft up a document. This are spoken in front of witnesses who then attest to the veracity of the will. Because there is no written document, and fraud could easily occur, this type of will is not recommended.
- Deathbed Will – These are wills that are put together when someone is facing certain death. They must be witnessed by two or more people. While they can be legally binding, they are often contested because of the mentally state of the testator at the time. They also often forget many possessions, leaving those items to the mercy of the judge.
- Holographic Will – These are informal handwritten wills that are usually made when something tragic or unexpected happens. While some states recognize them, they aren’t always followed.
- DIY Wills – These are Do-It-Yourself wills. Many websites and books will help you create your own will; however, keep in mind that a fill-in-the-blank form came never be as accurate as an attorney helping you categorize and distribute your assets.
- Self-Probating Wills – These are wills that are created and then witnesses sign a sworn statement to verify that the testator was of created and signed in their presence and the testator was of sound mind when the will was created. Self-probating wills that are drafted with the help of an attorney are least likely to be successfully challenged.
Is it important to keep in mind that while you draft your own will, getting a knowledgeable attorney’s help will ensure that your will is followed and not overturned when challenged.