Wills: Basic Information

A will provides one of the easiest ways of giving an individual a voice in how they want their property to be distributed and avoid legal problems that may arise when someone dies intestate. To die intestate means to die without a will. To avoid probate, a will must be carefully designed and well-drafted to meet the needs of the testator and their intended recipients.

Validity

To be valid a will must be:
Made by an adult
Made by someone with testamentary capacity
Created Voluntarily

Formality

A will can be formal meaning word processed, signed and properly witnessed. It can also be holographic, meaning hand written with no witnesses (check your states statutes to see if they recognize holographic wills), or nuncupative, meaning an oral will.

Changing a Will (codicil)

Changing the terms of a will is done through a codicil, which is a separate instrument with new provisions that change the original will in some way.

Revoking a Will

The act of revoking a will must be accompanied by the testator’s intent to revoke the will. There are three methods for revoking a will.
The execution of a new will revokes a prior will. To revoke a prior will in some states, the new will must either expressly state that it revokes an earlier will or be inconsistent with the old will.
The marriage of a person who has made a will revokes the will in some states unless the will declares that it is made in contemplation of marriage to a particular person.
A divorce or dissolution of marriage revokes bequests and devises to a former spouse but not the will itself.