WHAT IS A LAST WILL AND TESTAMENT?
A will is a written document, signed by the author and witnesses, that meet the requirements of the state in which the author resides.
- The author can document the beneficiaries whom he or she wants to get his probate estate.
- The author can designate a personal representative to administer the estate and follow out the author’s wishes.
- In many states, parents must name a guardian of minor children in a Last Will and Testament.
- The author can request the probate court waive the requirement for a surety bond for his or her estate representative.
- The author can include instructions to set up a testamentary trust to manage beneficiary assets rather than giving assets directly to the beneficiary.
Wills usually require a probate process assuring the instructions in the will are carried.
- How does the probate court determine the will is authentic?
- What is the difference between a Will and a Trust?
- How do you make a Last Will and Testament?
Q. How does the probate court determine the will is authentic?
A. In many states, the estate representative must be able to show the original will. If the original will cannot be found, some states will consider the author to have die intestate.
Some states require the witnesses who originally signed the will to attest they watched the author sign the Last Will and Testament.
Q. What is the difference between a Will and a Trust?
A. Both a Will and a Trust allow you to name someone to manage and distribute your property to your beneficaries when you die. You can find out the difference here.
Q. How do you make a Last Will and Testament?
A. You can visit an attorney who specializes in estate planning. Some people prefer to do it themself and use web-based or PC-based software to create their last will and testament.