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What
are the basic requirements of a will?
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The
basic requirements in most states are that you be above the
age of 18, be of sound mind and intend to make a disposition
of your property. Your will should be in writing and
witnessed by two persons who are not named in the
instrument, over the age of 16.
In limited circumstances an oral (also called "nuncupative")
will is valid. It can only be used to dispose of
personal property. Most states require the nuncupative
will to be made at the deceased's home during the last
sickness.
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What
is a joint and mutual will?
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A joint and mutual will is a
contract (one will) between two spouses that they will
dispose of their property in a specific way. This will
is used by married couples who have children by a prior
marriage who want to assure their children share in their
estate should they predecease the other spouse. It prevents
the surviving spouse from making a new will and depriving
the children of the deceased spouse from their inheritance.
(See Mirror
Wills Page)
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Can
I prepare a will in another state?
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Absolutely. If you are traveling on business
or vacation and want to prepare a will you simply
need to have it witnessed in another state the
same as if you were preparing it at home.
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If you do prepare your
will outside your domicile, make sure you have it
notarized. Although a notarized will is not
necessary to make it valid, it is necessary to make
it a self-proven will. This means if it
becomes necessary to probate your will you will not
have to call the witnesses to court to testify about
your mental state when you prepared your will.
If these witnesses live in a foreign state it
creates additional problems and expense for your
executor or administrator to bring them to court.
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Does
a will protect me if I become disabled?
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No. A will only becomes
effective upon your death. To protect you when you
become disabled you must use both our Advanced
Healthcare Directive and general power of attorney.
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Can
I make specific bequests of property?
Yes. In your will you simply decide to whom you
want to leave your property. Our wills contain an
"enabling clause" that incorporates any written
memorandum you may subsequently make regarding the
disposition of specific property. This keeps you from
having to redo your will every few years as you acquire new
things and get rid of the old. When preparing a will it is
important that you have this paragraph included so that you
are not locked in on specific items that will soon change.
For more complete protection, you might want to compare the
benefits of a Will
versus a Trust.
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I
have adult children from a prior marriage and minor children
from my current marriage. Do I need a trust?
You
will still need a trust for your minor children.
However, the trusts in our wills only provide for a trust if
at the time of your death you have minor children. If
you leave property equally to four children and two are
minors, only two trusts would be created under the will.
You can decide when the trust terminates and at what age
your minor children receive their inheritance.
Read more about this on our Family
Trust Page
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I
want to be cremated. Does your will provide for that?
Yes. We will requst this information from you
during your phone consultation..
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I
have loaned money to my children and some have not paid me
back. Can I make them pay me back before they get
their inheritance?
Our wills contain an optional clause that allows you to
elect that your child pay your estate before he or she
receives any bequests under the will. By exercising this
option you are alerting your administrator that your
advances to your child were loans and not gifts. The
indebtedness should be evidenced by a promissory note.
It is a good idea for you to have your child sign a note
evidencing the amount in case of a dispute later with your
estate administrator as to the amount. You can make
the note payable upon your death if you do not intend to
force your child to repay you earlier. We have
promissory notes available, ask us about them during your
free consultation.
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I have to have my will witnessed?
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Yes. Since
these wills are printed and not wholly
written in the handwriting of the
testator, they must be witnessed.
Witnesses attest to your intent to make
a will and your mental capacity when
making a will, including lack of duress.
Mental incapacity
includes insanity as well as
inebriation. Anyone eighteen years or
older may be a witness. All states
require two witnesses, except Vermont,
which requires three. A beneficiary
under the will is disqualified from
being a witness for obvious reasons.
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Do
I have to have my will notarized?
No. A notarized will only makes it self-proven.
This means if it becomes necessary to probate your will you
will not have to call the witnesses to court to testify
about your mental state when you prepared your will.
If your will is not notarized, your executor or
administrator will have to call one or more of the witnesses
to court to testify about your mental state when you
prepared your will. All of our wills provide spaces for
notary acknowledgements for your convenience.
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Where
can I find a notary?
All banks provide notary services for their customers.
You can also find good witnesses there. Notaries are
also listed in the yellow pages. Most insurance agents
have notaries working in their office. You can find
good witnesses there as well. You can search on the web for
a notary at such places as theLawShack.com
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After
my will has been signed, witnessed and notarized, what do I
do with it?
You have several options. Some states, such as
Colorado, have a statute which allows you to deposit your
will with any court for safekeeping. Others, such as
Texas, provide for the depositing of your will with the
county clerk for safekeeping. None of these statutes is a
prerequisite to a valid will, they exist only for your
convenience.
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If your state has not enacted a
safekeeping statute, it is common for people to keep
their will in a safety deposit box. You must
keep in mind, however, that the person you name as
administrator or executor as well as alternate
administrator or executor, should be advised as to
the location of your will. You may even consider
allowing the person you name as administrator to
have access to your safety deposit box or provide
them a copy of your will to prevent him or her from
going to the expense of obtaining a court order to
retrieve your will. |
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