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Types Of Wills

Death is something that cannot be controlled or even prevented and thus important to make sure that after you are gone, your kids or other heirs properly get portions of your assets according to your wish and hence the need for writing a will. However, a will is not just a document with rules and guides from the property owner but is a legal document which must meet some standards as required by the court in order for it to be valid.

One of the legal requirements for writing a will is a minimum age of eighteen years as the court considers people which above 18 years with sound minds and in good legal positions to make very sound decisions. Wills are executed after the death of the testators, these are the people that create or write wills, and thus the need for every testator to have an executor in order to explain how the property should be distributed among the heirs in accordance to the testators wishes. There are however several types of wills that are common in many parts of the world. Some common types of wills that are available in many parts of the world and also recommended to various estate owners are discussed below.

Simple wills are the first category of the wills that are very popularly used in various parts of the globe. Just as the word suggests, simple wills distribute simple assets to the beneficiaries. Every will should be typed and not handwritten and so is the simple will. This kind of a will generally include the name, address and marital status of the owner of the property as well as well outlined instructions for the distribution of the property. The date of the simple will is generally signed by the testator and the executor who is the witness.

Testamentary trust will is another common type of a will that you can write depending on the circumstances. Here, the estate is not directly distributed to the beneficiaries after the death of the testator as it has to be first placed into a trust where based on its terms, the assets will then be distributed to the beneficiaries. In case you have an estate and would like to leave it to your spouse after you die, then writing a joint will is the way to go.

A joint will cannot be revoked after the death of the spouse owning the estate. Living wills are other common types of wills that provide the testators choice of medications and treatments to be used when he or she is unable to communicate the wishes for him/herself.

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