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Frequently Asked Questions About How To Make a Will

 

 

Do I really need a Last Will And Testament?

Where should I keep my Last Will And Testament?

What happens if I die without a Will?

Probably, if you own property. While it is true that state laws will say who receives certain property regardless of what your Will says, there is still property that passes according to your Will or according to the state intestate (dying without a Will) laws. Therefore, it is a good idea to have a Will.

YES, if you have minor children. The only way you can say who will raise your child(ren) and who will take care of their property if you die, is to have a Will. Are there family members that you want to raise your child? Are there family members that you do not want to raise your child? You need to make your Will for your children's sake.

Many professional advisors recommend making an entirely new Will whenever you wish to make a change to your existing Will. Making changes through a codicil can get burdensome because you must keep the original Will and all the codicils to it. Thatís because a codicil is simply an amendment to your existing Will. If you make an entirely new Will, then the old Will is revoked and only the new Will remains in effect. It's much easier to keep track of one document that a number of them.

Keep your Will in a place where it can be found if necessary. A good place is to keep it with your other legal papers. You may keep it in a safe deposit box, but it is not required.

If you die without a Last Will and Testament, you are said to have died "intestate." In that case, the laws of the state in which you are domiciled at the time of your death will control the settlement of your estate and the distribution of your probate property

The laws governing intestate estates are designed with one central purpose. That central purpose is to pay your outstanding debts at the time of your death, then to pay the costs of administering and settling your estate, then to distribute your remaining probate property to your next of kin. If you donít leave a Will to let people know how you want your property distributed, the state has to do the next best thing and try to guess at what you might want done, based upon what others in your position have commonly done.

What do I need to know to make my Last Will And Testament?

Can I change my Last Will And Testament?

Are there certain times when I need to make a new Last Will And Testament?

You need to know who you want to (1) receive your property when you die, (2) handle your estate, (3) have custody of any minor children you have, and (4) take care of any property that is left to your minor children.

You can make a new Last Will And Testament as often as you want. Do not make written changes in your Will after you sign it. Strikeouts and written additions will void your Will. For example, if you want to name a different person to be your Executor, make a new Will.

Yes! If you change your mind on anything in your Will, get married or divorced, or if something happens to one of the beneficiaries name in your Will. How to do a will


Are Last Will And Testaments recorded at the Courthouse?

If I move to another state, do I need to make a new Last Will And Testament?

Can my spouse and I make a "joint" Last Will And Testament?

Some states allow you to file your Will at the Courthouse. I do not recommend this because it could hinder your changing your Will in the future. If you feel safer by filing your Will, call the Clerk of Court or a lawyer licensed in your state to find out the procedures. Maybe. Constitutionally, states must give credit to Wills legally created in other states. However, since state laws vary as to what is and is not covered by a Will, you may want to talk with a lawyer licensed in your new state to make sure that your property will still be distributed as you want it to be. Yes, but I do not think that it is a good idea. When a Will is probated, it is a permanent public record. Since your Will is the "joint" Will on public record, you may have a difficult time changing or even voiding your Will.



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