Wednesday, August 31, 2011

Variety of Wills

A Will is the legal declaration of a persons mind as to the manner in which the estate should be disposed of upon death. A written guide as to proper distribution of all the persons stuff. This lists some types of wills.
1. Simple Will facilitates distribution of assets in an uncomplicated estate.

2. Testamentary Trust Will establishes one or more trusts for assets upon death.

3. Pourover Will leaves assets to a trust you established before death.

4. Holographic Will is unwittnessed and hand written.

5. Oral Will (nuncupative Will) Only spoken words, not written down.

6. Joint Will one written document for two people, husband and wife.

7. Living Will has force while senior is still alive, does not dispose of property, gives medical staff directions if you should lose consciousness.

This is just a brief list of Wills that can be seen as the deceased persons things are distributed.

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