Types of Wills Differ in Purpose and Effect

Although the will is often referred to as the most basic tool for estate planning, it’s important that it’s put together properly with an eye for small details. You need to be sure that the type of will you select is valid for your state. A self-proving affidavit is one tool you might use to increase the speed of acceptance in probate court. The idea that a will is simple has led many to turn online or to generic forms for creation. These are limited in use and not always valid, generating more problems down the road. 

If a living trust is included in your estate, you might consider what’s known as a pour-over will. This means that all assets not titled in the name of the trustee will flow into the trust. Your estate planning professional can provide more insight over will alternatives and different types of wills that might be used based on your needs.

If there’s a concern over imminent death, a holographic will, made in the testator’s own handwriting, may be done. This will could be more open to challenges and should only be done if there are three or more witnesses present. Planning ahead and having a comprehensive will put together in advance can alleviate last-minute concerns and reduce the opportunities for the will to be challenged into the future. Email our office at info@lawesq.net.