Express The Love For Loved Ones Through Last Will And Testament And Show That You Care Last will and Testament Form is a legal document that signifies who will receive what assets, property after the death of a person. People generally question - “Why do I need a will? I don’t have enough property.” Or “My kids know who gets what.” Well these are simply excuses. Failure to do so might result in dispute in your own family over money and assets. Family would fall torn apart. Whatever might be the case, whether you have few assets or loads of money or assets, everyone should have a will. There is no perfect time as in when should the will be written, however those with minor children should take it at up front for their security and protection. The only secure way to insure that your property will be inherited by the beneficiaries that you choose, as opposed to those chosen by law it is safe to make a valid Last Will and Testament. A written and executed Last Will and Testament Form consist of specific clauses to an appointed executor (in charge).It would include what to do with property, assets. A will may contain details about real estate owned, bank locations. Mutual funds, stock exchange, house, vehicles owned etc. An executor with assistance of an attorney prepares and files the associated documents. The attorney would guide executor accordingly. There are certain points that are mandatory to be included in a Last Will and Testament. These consist of name for whom will is written, location, house address. It also checks for previously existing Last Will if filed. In case of many children, percentage of property to be inherited by whom should be mentioned. In case the beneficiary dies before the person applying, who would be next beneficiary should be mentioned. Same is applicable to the executor, in case executor dies or shows lack of interest to execute responsibilities. The will can be changed often .Sometimes the will needs to be changed due to change of circumstances or death of spouse or change of beneficiaries. The newly added clauses can be appended in existing bill, but it just needs to be signed and dated each time it is appended. Additional points could be how he wishes to be cremated etc. One needs to make sure that he signs the Last Will and Testament properly. There would be witnesses who would sign along with you as a proof. The will doesn’t get functional until person’s death. So keep the
will safely so that it doesnâ€™t get tampered. Inform the executor about its location. A copy of the same can be handed over to executor.
Published on Oct 4, 2012
Published on Oct 4, 2012
http://www.lawyerslegalformsanddocuments.com/wills-and-estate-planning/legal-will-and-testament/ - A will is a legal document that lets you...