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What is a will?
A will is a legal document that allows a person to specify how they would like their assets to be distributed after they have passed away. This document is typically prepared in the form of a written document, although other types of wills, such as oral and video wills, are also accepted in some states.
What is the difference between a last will and testament and a living will?
A last will and testament is a legal document that is created during a person’s lifetime that details how their assets should be distributed after their death.
A living will is a legal document that outlines a person’s wishes regarding medical care if they become incapacitated or unable to make decisions for themselves. Click here for more information regarding living wills and free health and care directives .
Why have a will?
Having a will is important for several reasons. Firstly, it allows a person to ensure that their property and assets are distributed according to their wishes. Without a will, the state’s laws may dictate how the assets are distributed. Additionally, a will can help to reduce the chance of family disputes over the division of property. Furthermore, a will can be used to appoint an executor, who is responsible for ensuring the will is followed and that the deceased’s wishes are respected.
Finally, a will is a great way to provide for any dependents, such as children or other family members. The will can specify who should receive what assets and how they should be handled. This can be especially important for those who have dependents who are too young to handle their own finances. A will also allows a person to designate guardians for minor children in case something happens to both parents.
Having a will is a great way to ensure that your wishes are respected after you have passed away. It allows you to provide for any dependents and ensure that your assets are distributed according to your wishes. Furthermore, it can help to reduce the possibility of family disputes over the division of property.
Where to find free last will and testament forms
Our “go to” easy and quick online resource for free and detailed information on preparing your last will and testament is Legal Templates. Here you can create customized PDF and Word documents that should satisfy basic statutory requirements of your state.
According to Legal Templates, the American Bar Association advises that you do not need to use a lawyer to write your Will. Wills are generally legally valid if they meet your state’s requirements.
Having said that we highly advise all our visitors, if you have a significant wealth or complex needs, hiring an attorney to guide you through complicated legal and taxation issues will produce a better, more comprehensive will and an overall smoother experience for your heirs.
Example of a very simple last will and testament
This is my Last Will and Testament.
I, [your name], of [your city, state], being of sound mind, do hereby declare this to be my Last Will and Testament, revoking all former wills and codicils.
I hereby direct my Executor as follows:
1. To pay all of my just debts, funeral expenses and expenses of administration.
2. To distribute all of my property, both real and personal, as follows:
a. [Name] shall receive [item and/or amount].
b. [Name] shall receive [item and/or amount].
c. [Name] shall receive [item and/or amount].
3. In the event that any of the above named beneficiaries should predecease me, then his or her share shall go to his or her issue, per stirpes.
4. In the event that none of the above named beneficiaries should survive me, then all of my property shall be distributed to [name], of [city, state].
I hereby appoint [name] of [city, state] to be Executor of my estate.
IN WITNESS WHEREOF, I have hereunto set my hand this [date].