Legal Base article

A last will or testament is a document by which a person arranges for the distribution of his or her property and possessions after her death. Family members have the legal rights to property of a person but a person’s will is always respected whether he wants to leave his money to them or some acquaintance in Timbuktu. The will and testament regulates others’ rights over one’s property and family after one’s death.

When a person dies, a probate proceeding is initiated to take care of his property. The will usually names an executor - a person assigned the task of carrying out the provisions of the will. If not an executor is named by the probate court. In some States of U.S., if the person (Testator) has died with a proper will, probate proceedings are not required. But in most states such legal proceedings are required to settle the property especially in case of intestacy (Lack of will).

In most states the Intestacy laws follow the laws of descent. In the event of a person’s death, property goes to the spouse, then children and their descendants. If a person dies intestate with no legal heirs, the person’s estate generally escheats or reverts to the government. A legal representative is appointed to look after this process.

Probate proceedings take along time and to avoid probate, people generally execute a living trust while they are alive. This is a trust to which a person transfers ownership of his property and which he controls. After his death, the beneficiaries named in his trust gain ownership of the property. This avoids probate proceedings and publicizing of property details.

Any person above the age of 18 can draft his own will without an aid of an attorney. Every will must have following provisions- The testator must clearly identify himself and declare that he revokes all previous wills and codicils (attachments). He must declare that he is acting freely and willingly and must sign and date the will in the presence of two witnesses who must not be beneficiaries. Lastly, the testator’s signature must be placed at the end of the will.

Wills may be of different types. A holographic will and testament is one that has been entirely handwritten. It is then signed by the testator. In some states, holographic wills need not even be legally witnessed. Such wills are common in emergency situations, such as when testator is alone and in near death situations. In the U.S. unwitnessed holographic wills are recognized by 30 of the 50 states. A minority of states also recognize “non cupative” or oral wills.

A joint will is a single document signed by both the husband and the wife. It makes a single disposition of their property on the death of either or both of them. Mutual wills are a pair of identical documents, one signed by the husband and other by the wife, thereby assuring identical dispositions of property.

Although wills are simple enough, nearly half of all Americans die without making one. They fail to realize that their hard earned wealth will be reverted to government possession and divided according to State Law. A will is especially important if you want to appoint legal guardians for your children in the event of your demise.

e-LastWillAndTestament.com Last Will And Testament provides detailed information about last will and testament, contesting a last will and testament, free last will and testament packages, how to write a last will and testament and more. Last Will And Testament is the sister site of i-Probate.com Probate Court.

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A will is a legal document that is written to guarantee that the money and belongings of the testator are left to people or organizations desired by him. Without a will, the estate can be subject to many problems. Relatives may also dispute over property, leading to lengthy court proceedings.

In the eyes of law, a will or testament is a document by which a person or the testator regulates the rights of others over his property or family after death. In a strict sense, a will is a general term, while testament applies only to dispositions of personal property. A will is also used as the instrument in a trust.

A traditional will is also called a last will and testament, or a testamentary will. It is a legally binding document that defines how the testator would like his property distributed when he dies. It may also define his wishes concerning who becomes guardian over his minor children.

It should be noted that letters of instruction are not legal documents. Items of personal importance or high value should only be included in a will. The person making a will is called the testator. Those specifically receiving items stated in the will are called beneficiaries. On a side note, the term “heir” actually applies to those who inherit an estate when no will exists. When a testator creates a will, he names an executor to handle all the administrative aspects of the will. The executor’s primary responsibility is to ensure that the will is executed based on the wishes of the testator and that the items named in the will are correctly distributed to the beneficiaries.

Wills are made up in a manner that specifies whom the assets should be distributed amongst, such as a spouse, brother or grandchild. Beyond this, a will may also provide some specific instructions about dividing up property. A will has specific requests like wanting an asset to go to a friend or having it donated to a charity. In all, a will or testament provides a legal platform to deal with property of the testator and avoid conflicts.

wills-resource.com Wills provides detailed information on Free Wills, How to Write a Will, Last Will And Testament, Living Wills and more. Wills is affiliated with i-LivingWills.com Living Will Forms.

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