Last Will and Testament
What a will does:
Simply, a will establishes your wishes regarding your estate at your death. It will:
Why should you have a will?
1. Make the most difficult time for loved ones easier.
2. Name who takes care of your children.
3. Prevent bitter family battles.
4. Simplify the legal process.
5. Name who gets your assets.
6. Prevent confusion.
7. Protect the family home or business.
8. Minimize legal costs.
9. Eliminate cost for administrator bond.
10. Give consideration to your personal choices.
The precise wording on your will should be customized to match your circumstances,
reflecting you own specifics.
You may request the manner your remains are handled, i.e. cremation or burial, and refer
to a location, a burial policy or a document.
You will be able to establish a trust fund for your children, that will provide for their
care and education when they are young, and will distribute whatever money is left in the
fund once all of your children are grown. You can choose who will serve as Trustee of the
trust fund, and what age your children must reach to receive their share of the trust.
You will be able to name an unlimited number of assets (such as your house or your wedding
ring) and specify who you would like to give these assets to (special bequests).
You will be able to name an unlimited number of beneficiaries who will share the remainder
of your assets, after bills are paid and special bequests are distributed.
You will be able to name the person who carries out your wishes as specified in your will,
and who you want to take care of your minor children.
While the decision to have a will is a personal decision, your failure to prepare a will
may have a severe impact on the loved ones you leave behind. People who die without wills,
leave their families with the unnecessary, unpleasant, and often expensive probate
intestacy. The court decides who will administer and devide your assets, and all this will
be attached to your estate as a debt.
If you die without a will, there is no guarantee that your family or loved ones will
receive your estate. The law of your home state will determine who will receive your
valuables, money, and property. Your home state is the state with which you have the most
contact (voter registration, driver's license, vehicle registration, property ownership,
and where you intend to live when you leave military service).
While all states have laws which determine who will receive your property when you die
without a will, these laws can vary greatly from state to state.
If you're single, have children, your property will be probably be divided equally among
your children. If you have no children, your property will be divided equally between your
parents. If only one parent is living, that parent will receive all your property.
What if you have neither children nor parents living? Your property will then be divided
equally among your living brothers and sisters.
You may decide to leave your assets or a treasured item to an unrelated friend or loved
one. Without a will, that person will have no recognition through the legal system, and
your last requests do not have to be honored by the court or your family.
LAST WILL OF _________________ [name of testator]
I, _________________ [name of testator], a resident of _________________, [State], being of sound and disposing mind and memory and __________years old [over the age of eighteen (18) years or lawfully married or having been lawfully married or a member of the armed forces of the United States or a member of an auxiliary of the armed forces of the United States or a member of the maritime service of the United States], and not being actuated by any duress, menace, fraud, mistake, or undue influence, do make, publish, and declare this to be my last Will, hereby expressly revoking all Wills and Codicils previously made by me.
I. EXECUTOR: I appoint _________________ as Executor of this my Last Will and Testament and provide if this Executor is unable or unwilling to serve then I appoint _________________ as alternate Executor. My Executor shall be authorized to carry out all provisions of this Will and pay my just debts, obligations and funeral expenses. I further provide my Executor shall not be required to post surety bond in this or any other jurisdiction, and direct that no expert appraisal be made of my estate unless required by law.
II. GUARDIAN: In the event I shall die as the sole parent of minor children, then I appoint _________________ Guardian of said minor children. If this named Guardian is unable or unwilling to serve, then I appoint _________________ alternate.
III. MARITAL STATUS: I declare that I am married to _________________ [name of spouse ] and that all references in this Will to my _________________ [Husband or wife] are references to _________________ [him or her].
IV. SIMULTANEOUS DEATH OF SPOUSE: In the event that my _________________ [wife or husband] shall die simultaneously with me or there is no direct evidence to establish that my _________________ [wife or husband] and I died other than simultaneously, I direct that I shall be deemed to have predeceased my _________________ [wife or husband], notwithstanding any provision of law to the contrary, and that the provisions of my Will shall be construed on such presumption.
V. SIMULTANEOUS DEATH OF BENEFICIARY: If any beneficiary of this Will, including any beneficiary of any trust established by this Will, other than my _________________ [wife or husband], shall die _________________ within 60 days of my death or prior to the distribution of my estate, I hereby declare that I shall be deemed to have survived such person.
VI. BEQUESTS: After my debts, taxes and death expenses are satisfied,
I divide my assets as follows and leave the following items to:
IN WITNESS WHEREOF, I, _________________ [name of testator], hereby set my hand to this last Will, on each page of which I have placed my initials, on this _________________ day of _________________, at _________________, [State].
_________________ [signature ]
_________________ [typed name of testator ]
The foregoing instrument [, consisting of _________________ pages, including this page,] was signed in our presence by _________________ [name of testator ] and declared by _________________ [him or her] to be _________________ [his or her] last Will. We, at the request and in the presence of _________________ [him or her] and in the presence of each other, have subscribed our names below as witnesses on this _________________ day of _________________.
_________________ [Signature of Witness #1]
_________________ [Typed name of Witness #1]
_________________ [Address of Witness #1]
_________________ [Signature of Witness #2]
_________________ [Typed name of Witness #2]
_________________ [Address of Witness #2]
_________________ [Signature of Witness #3]
_________________ [Typed name of Witness #3]
_________________ [Address of Witness #3]