Sometimes know as a \u201cLast Will and Testament\u201d, not to be confused with a \u201cLiving Will\u201d which is a healthcare directive.<\/p>\n
Your signature and those of two witnesses make your will authentic. Witnesses don’t have to know what the will says, but they must watch you sign it and you must watch them witness it.<\/p>\n
Hand-written wills — called holographs — are legal in about half the states, but most wills are typed and follow a standard format.<\/p>\n
What Should Be In Your Will?<\/p>\n
<\/p>\n
\u2022You must first include your name and address.<\/p>\n
\u2022Next, you must include a statement that you intend the document to serve as your will.<\/p>\n
\u2022The names of the people and organizations — your beneficiaries — who will share in your estate.<\/p>\n
\u2022The amounts of your estate to go to each beneficiary (usually in percentages rather than dollar amounts.)<\/p>\n
\u2022Name an executor to oversee the disposition of your estate and trustee(s) to manage any trust(s) you establish.<\/p>\n
\u2022Name alternates to provide both executor responsibilities and trustee(s).<\/p>\n
\u2022Name a guardian to take responsibility for your minor children and possibly a trustee to manage the children’s assets in cooperation with the guardian.<\/p>\n
\u2022Designate which assets should be used to pay estate taxes, probate fees and final expenses.<\/p>\n
<\/p>\n
\u2022You should make a will as soon as you have any real assets, or get married, and certainly by the time you have children.<\/p>\n
\u2022Without a will you die interstate<\/p>\n
\u2022The law of your state then determines what happens to your estate and your minor children.<\/p>\n
\u2022This process, called administration, is governed by the probate court and is notoriously slow, often expensive and subject to some surprising state laws.<\/p>\n
American Retirement Advisors provides general information only and it is not to be construed as tax, legal, or investment advice.\u00a0 Although the information is believed to be reliable, please note that individual situations can vary.\u00a0 Always seek professional advice before making any\u00a0tax, legal, or investment decisions.<\/em><\/em><\/p>\n We suggest visiting the Attorney General website in your state for more information.<\/p>\n","protected":false},"excerpt":{"rendered":" Sometimes know as a \u201cLast Will and Testament\u201d, not to be confused with a \u201cLiving Will\u201d which is a healthcare directive. A will is a legal document that transfers what you own to your beneficiaries upon your death. It also names an executor to carry out the terms of your will and a guardian for […]<\/p>\n","protected":false},"author":1,"featured_media":2147,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9],"tags":[17,16],"class_list":["post-2143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-estate-planning","tag-last-will-and-testament","tag-will"],"yoast_head":"\n