Before you pass away, you may want to ensure that all of your property and assets are distributed among your loved ones and children. The tool you would use is a will, which is an instrument that tells the executor who is in charge how to distribute the estate.
If you are going to create your will, it is very important to have an idea of the different types of legal wills that are available and executable by the law.
In this type of will, a person, in the presence of two or more witnesses, says what he would like to do with his personal property only. In most cases, this is done while a person is dying. However, if this type of will does not match the legal (written) will, then chances are it will not be upheld in court. A lot of times, disinherited relatives may claim that a dying person suddenly had a change of heart and left them something. Because of this, most of these wills are invalid if they go against the legal will.
Some people may leave an oral will which, like the nuncupative will, is usually given on the deathbed. While in some states the law may accept it, usually that is only done with conditions such as having two or more witnesses. Those witnesses may also be required to put the will in writing and it may have a monetary limit.
This type of will is one where the testator hand-writes the will and signs it in her own hand. Some states will not accept this kind of will, because it must be proven that the person actually wrote the document. If this type of document is typed and there are no witnesses, it will not be recognized as valid.
A testamentary will is a regular everyday will, which is used to pass on real estate and assets, and is also used to name guardians of children. It may also list the executor of the will and create trust funds for the children. This type of will must give a statement that the testator is of "sound mind" and has his signature, which can be checked after it is done. This type of will is usually drawn up by an attorney.
This type of will transfers the assets of the testator to a trust fund that already exists.
This type of will is usually created by a person who has some medical issues and is seeking medical attention. It spells out what the person wants done if she is unable to care for herself or communicate her wishes after the procedure.