A will is a legal document that is key to your estate plan. This document outlines your last wishes, including instructions for asset distribution. With a will, you can name beneficiaries who can benefit from your passing and an executor of the estate who is responsible for settling your estate according to your wishes.
Without a valid will, you could die intestate. As a result, your last wishes may not be met. Here is what you should know:
What is intestate?
Intestate means that you died without a valid will, which means that your intentions are not known. The state probate court would then be in charge of settling your estate. The state probate court will assign an executor for your estate.
The assigned executor is responsible for distributing your assets to the next of kin. While you can choose your beneficiaries, your next of kin is already defined. You may not want certain people to benefit from your estate, so it is important to have a valid will.
How do you make a valid will?
There are several ways that a will might be invalid. For starters, a valid will requires your signature and a signature each from two witnesses who do not stand to gain from your estate. A will could also be invalid if it is suspected that the document is a forgery, made under distress, created through undue influence or has an error.
If you want to have your last wishes met, it can behoove you to talk to legal help to learn how to safeguard your estate.