Monday, February 22, 2010

Writing Your Will

If there is a question of validity or if the will is proven to be invalid, then inheritance will be determined under the standard laws of that jurisdiction. This would be the same as if the will was never created. There may also be a time limit that a will may be admitted to a probate hearing (usually 30 days). The will being submitted must be the original copy, in almost every jurisdiction – no photocopies are allowed, of any type.

Homemade Wills
The creation of a will does not require a lawyer. However, there can be certain problematic issues associated with “home-made” wills. Not to mention the fact that any unclear stipulations will not have the benefit of input from the deceased. Therefore, there is virtually no margin of error. An interesting example of this would be the case where a husband has his wife witness the will’s signing. If she is a potential beneficiary of any assets, the fact that she was a witness would immediately disqualify her for any benefits mentioned in the will.

Holographic Will
Some jurisdictions will recognize a “holographic will” which is penned entirely in the testator’s own handwriting. The real benefit of this type of will is not so much that it was directly written by the testator – but by the fact that it doesn’t require witnesses. A few jurisdictions will even recognize a “nuncupative will” which is given orally. Some jurisdictions (in Great Britain, for example) have special provisions for more relaxed requirements when it comes to military personnel, on active duty, who express their wishes for asset dispersal upon death.
Wills are prohibited from including immoral requests, illegal stipulations or other acts against the general public as a condition of receiving benefits. In a community property jurisdiction – wills may not be used to completely prevent the inheritance of assets by a spouse. In these cases, the spouse is considered entitled to at least a portion of the testator’s assets in an estate settlement.

It’s also considered a good idea to give an executor the power to settle debts, pay probate expenses and address taxes. Wills that don’t provide for this contingency may end up costing the estate a large sum, in the long run.

Please note that this article is for informational purposes only and is not intended as legal advice.

The offices of Searcy Denney Scarola Barnhart & Shipley PA, which are located in West Palm Beach and Tallahassee, Florida, maintains their website at www.searcylaw.com. Chris Searcy is the managing attorney.

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