Senior Last Will and Testament Definition
- People have wills so that when they die, their assets will be distributed as they see fit. For example, if a person is estranged from her children and has a domestic partner, meaning they were never legally married, the deceased might want the assets to go to the partner. This needs to be specified in a will, otherwise legal battles could ensure. A last will and testament ensures that the desires of a person are carried out after death.
- Every will has an executor, which is a person who makes sure that every wish of the deceased is carried out, all debts are paid and all loans collected. When you write a last will and testament, if you do not designate an executor, then a court will appoint one. Choose someone who lives in the same state as you because, depending on the size of the estate, the executor might face considerable travel. If you think appointing someone from your family could cause problems, hire a professional to be your executor.
- Everyone needs a will so disputes don't erupt when a person passes away. Families might fight over the assets so it is extremely important to list everything you own so you can quell possible arguments.
- Simple wills can be found online. A person fills in the areas that are specific to him. When making a last will and testament in this way, you will need a witness who can witness the signing and assert that the will and its contents are genuine. For a person who has more assets, or does not want to make a will on his own, a lawyer can be hired to handle the affairs. This lawyer can also serve as the witness at the time of signing.
- When making a last will and testament, consider appointing an alternate executor in case something happens to your original executor. These people should be identified in the will. Also, if you have made previous wills, destroy them as soon as you create a new one because this is the one that will take precedence.
Purpose
Executor
Necessity and Specificity
How to Make a Will
Considerations
Source...