Keyword Analysis & Research: wills

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Frequently Asked Questions

What is a will and how does it work?

A will primarily lets you direct how your belongings—such as bank balances, property, or prized possessions—should be distributed. If you have a business or investments, your will can specify who will receive those assets and when. A will also lets you direct assets to a charity (or charities) of your choice.

What are the different types of wills?

While a testamentary will is likely your best bet, several other types of wills get varying degrees of recognition. Wills written and signed by the testator but not witnessed are known as holographic wills —from the less common secondary meaning of the word holograph, meaning a document hand-written by its author.

What is a will and do I need one?

A will is a legal document that sets forth your wishes regarding the distribution of your property and the care of any minor children. If you die without a will, those wishes may not be carried out.

What are the least widely recognized types of will?

Least widely recognized are oral wills, in which the testator speaks their wishes before witnesses. Lacking a written record, or at least one prepared by the testator, courts do not widely recognize oral wills. Another type of will, a pour-over will, is used in conjunction with creating a trust into which your assets flow.

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