Submitted by: Damian Sofsian(9,980) Log in to become a member of Damian Sofsian's Fan Club!
A will is a legal document that divides your property among beneficiaries – like your spouse and children - and decides the fate of your assets. There are free packages for creating wills available in the market.
The person making the will is called the testator and those receiving any items from the will are called beneficiaries. When testator creates a will, he also names an executor who ensures the smooth implementation of the will on his demise.
Any adult citizen (over the age of 18) of sound mind can draft his will. Drafting a will is a simple process but, becomes more complicated the more assets and more property you possess. In such a case you would require the services of a lawyer to draft a will.
Drafting wills are manipulated as they are future bread and butter of lawyers. The lawyers often offer free last will and testament packages. But when they draft the bill they include clauses that lock in their influence for the future. You will probably get addicted to consulting that lawyer every time in the future. After your demise, your relatives run to your lawyer for their rescue.
Lawyers actually make what are called as “Will Files". They draft lots of free packages of wills in order to get the probate business. It takes around 10 years to build up a good will file but once set, assures financial success for the lawyer.
Though you feel that you should make your will, don’t be tempted do it yourself. To be valid, a will must be strictly compliant with state law. That law may require a certain language, signature in a particular fashion and a certain number of witnesses. Homemade wills are recognized by only few states, and most homemade will are usually subject to contesting. A vindictive relative can make your will invalid and leave your property at the mercy of the courts.
Many sites on the Internet offer free packages of last will and testament covering a comprehensive list of services. This includes-Distribution clauses, Guardianship clauses (If you have kids), testamentary trust provisions for children, Credit shelter trust, Self Proving Affidavits, Notary Public forms, Debt forgiveness clauses, Funeral arrangement clauses, pet guardianship clauses, and common disaster clauses. These are available in ‘standard’, ‘gold’ and ‘vault’ packages according to additional optional features.
It is up to you to do a detailed study and choose the best means to help draft your precious will.
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Article added to SearchWarp.com on Friday, January 27, 2006 View other articles written by Damian Sofsian(9,980)
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