An executor is a person who will be responsible to handle your estate after your death. It is important to ensure that the appointed executor is not just only mature to handle to issue but has what it takes to take care of the Last Will to you pass on. Ensure that the Last Will and Testament form is signed using your traditional sign that you have been using all your life to ensure that the document cannot be contested.
At this point, you can make a special request if you desire. Put your Last Will and Testament in a safe place. You can create many copies and distribute them to people you trust for safekeeping. Periodically update your Will to reflect the current situation of things. For example, when new properties are added or when a child is born to the family. It is a good idea to have your Last Will and Testament notarized upon signing whether it is required or not in your state.
Notary public can be found at any bank branch. Skip and Download Skip and Download. FREE Download. Free Download Free Download. Tips for Filling the Template 1. However, either you use the services of a lawyer, or numerous online softwares or do it yourself, you should make sure that the format addresses the Testator, beneficiaries, executor, provision for children and pets and there is a provision for signatures and dates.
It must be simple and devoid of ambiguity. In all, it should be a document that cannot be disputed as a result of inconsistency or misrepresentation.
You will be able to modify it. A Last Will and Testament is a legal document that details how a person's assets and property will be distributed after their death. Creating a Will as a part of an estate plan ensures the person making the will, known as the Testator, will have their wishes followed and that the people closest to them are taken care of. People often create a new Will or update their existing Will for the following reasons:.
A Will is an important tool that allows a Testator to make important decisions about how their estate will be handled while they still have the capacity to do so. In order to make a Will, the Testator must be at least 18 years old and of sound mind. Being of sound mind means that the Testator is aware of what they are signing, know the general nature and amount of property they own, and know the relatives or descendants that would usually be expected to share in the estate.
Use this document to explain how the Testator's estate should be distributed among the people they name. There are several major decisions that the testator must make to accomplish this task. The Testator should note whether they are married and, if so, the name of their spouse, as well as whether they have any children.
For the purposes of a Will, children include both those that were born to the Testator as well as those that have been legally adopted by the Testator. This Will also includes a provision so that the Testator's future children, if any, are covered by the terms of this Will.
All children should be included in the family description, even if the Testator does not plan to leave them anything in the Will. This way, a Judge can be sure that the Testator meant to disinherit a child and did not mistakenly overlook them in their Will.
The Testator must appoint an Executor in their Will. The Executor fills the important role of carrying out the Testator's wishes concerning the legal and financial matters of the estate. The Executor is in charge of making sure that the people the Testator has named as beneficiaries get the portion of the estate described by the Testator.
The main requirements of an Executor are that they are an adult 18 years or older and that they have not been convicted of a felony. The person who is the Executor may be named as a beneficiary in the Will. People often choose someone that they are close to and that they trust, such as a spouse or one of their children, to fill this role.
One of the most important parts of a Will is the Testator naming their beneficiaries. The beneficiaries are the people who will inherit the contents of the Testator's estate , all of their belongings and property, after the Testator's death.
The Testator may make specific gifts in their Will, naming specific people to inherit specific possessions , property, or cash assets. In addition to specific gifts, the Testator will also name who will inherit the residue, or remainder, of their estate. The residue includes anything that they have not given away in a specific gift.
The Testator will name beneficiaries as well as alternate beneficiaries in case the people they have initially named die before them and are therefore unable to inherit. The Testator can name multiple people to inherit the residue of their estate and may s pecify what percentage or fraction of the estate each beneficiary will get. In addition to these three main functions of a Will, the Testator also has the option of naming a Guardian for their children who are under 18 years old in case the children's other parent is unable to care for them, setting up a trust account for their children so that their inheritance is managed by an adult known as a Trustee until the children reach a certain age, designating people who will care for their pets , and forgiving any debts that may be owed to them.
Once the Testator has completed their Will and thoroughly reviewed it to make sure that their wishes are accurately reflected, the Testator should sign and date the Will in front of three witnesses. The witnesses should also sign the will, attesting that the Testator was of sound mind and had the capacity to make these decisions when they signed the Will. The witnesses should all be 18 years old or older and not named as a beneficiary in the Will.
In addition, the Testator should number and initial the bottom of each page of the Will. Finally, the Will includes a page for a notary to notarize to add an extra level of precaution. Once the Will has been signed and completed, it should be put somewhere for safekeeping, such as in a home safe or or a bank safety deposit box. The Testator may also give copies of the Will to people with whom they are close and that they trust, such as a spouse or their children.
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