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Categories Of Wills

It is very important for any person owning properties and have kids to always have a will so that in case he or she dies anytime, then the heirs will have proper guidelines for dividing the properties among themselves. 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. Wills come in four major categories and thus important to learn about them first before you can write one. The following is a discussion about the four known types of wills.

The first type of a will which is greatly preferred by many people is known as a simple will. Just as the word suggests, simple wills distribute simple assets to the beneficiaries. It is important to understand that simple will must be in writing and typed. The name, address and marital status of the testator as well as the instructions for the division or distribution of the property are some key elements of simple wills. Executors of the will are simply the witnesses of the will in the court of law and thus required to sign the date of the will.

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. There is also a joint will which is mainly written by one of the spouses who want to leave his or her asset to the other spouse as a beneficiary.

One thing that makes this will different from others is that it cannot be revoked after the death of the testator. 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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