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- An Introductory Clause
- A Declaration Clause
- A Clause Identifying The Executor Or Administrator
- A Bequest Clause
- A Residuary Clause
- A Guardianship Clause
- An Attestation Clause
- A No-Contest Clause
In your introductory clause, you provide your personal information including your full name and the state where you live and indicate you are of sound mind at the time of the will.
Your declaration clause indicates that you intend this legal document to serve as your last will and testament. You should date your will and specify that this is your current legally valid will, revoking any wills that came before it.
An executor or administrator oversees the probate process with the court in which your estate is settled. The executor or administrator will also manage your estate assets until they are transferred to beneficiaries. This is an important job, as the executor must take many steps including locating assets, filing court paperwork and notifying credit...
A bequest clause specifies who will inherit your assets and how they will be distributed. It’s important to note this applies only to assets that transfer during the probate process. If you have put assets into a living trust, your retirement accounts name beneficiaries who inherit upon death or you co-own real property titled as joint tenants with...
A residuary clause should be included in your last will and testament. It specifies who inherits any property that is not otherwise addressed in your estate plan.
If you have minor children, you need to appoint a legal guardianfor them using a guardianship clause in your will. It is a good idea to appoint a successor guardian in case your first choice person passes before you or is otherwise unable to take over the care of your children if you pass away before they reach adulthood.
An attestation clause is the clause that is signed by the witnesses, attesting that the will is valid and was signed by you. Different states have different rules for the number of witnesses and the process for a witness signing a will in order to make it legally valid.
If you are concerned about someone arguing about the validity of your will, you can include a no-contest clause. This type of clause specifies that a beneficiary cannot inherit if they unsuccessfully challenge the validity of a will after your death. Different states have different rules about when they enforce these clauses, with some depriving a ...
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LAST WILL AND TESTAMENT OF _______________________________. I, ________________________ [Testator], a resident of _________________ [City], _________________ [State], declare this to be my Last Will and Testament, and revoke all previous wills and codicils made by me, either jointly or severally.
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Feb 28, 2024 · A last will and testament is a legal document outlining your wishes for how your property and affairs are handled when you pass away and how you want your family to conduct your funeral.
Aug 21, 2023 · A will, formally called a “last will and testament,” is a legal document stating how you want your executor (the person legally obligated to administer your estate) to distribute your assets when you die.
- Why is estate planning so important?Estate planning is not only about your peace of mind—it gives your loved ones guidance on how to move forward after you’re gone. It also plans for...
- What are common estate planning mistakes?The biggest mistake you can make in estate planning is failing to have a plan at all. A simple will is better than no plan—even if your situation i...
- Do I need an estate planning attorney?Not necessarily. Many small or straightforward estates can be managed using a low-cost online service. These services sometimes provide the option...
- Is estate planning only for the wealthy?Absolutely not! Everyone benefits from estate planning. In fact, failing to plan can lead to lengthy court processes and high probate fees, which a...
May 19, 2024 · A last will and testament or will is a legal document outlining how an individual (testator) wants to transfer their assets after death. It also appoints who will manage the estate during the probate process (personal representative) and guardians for minor children and pets.
Apr 3, 2024 · A last will and testament is a legal document detailing your wishes regarding assets and dependents after your death. Find out how to make a will.
