by Karon Brandt

Created on: September 28, 2007   Last Updated: October 31, 2008

No one is going to leave this world alive. We all know that; but we procrastinate about creating our wills because we don't want to think about it.

If you do not make this final decision for yourself, and create your own last will and testament, the state will do it for you according to your state's "rules of intestate succession." Most people find that appalling, and it can propel them to the nearest attorney's office. Our wills state how we want our property disbursed and how we wish to be set into our final resting places.

Most legal documents are rather standardized, but there are some finer points of disbursement that most people want the right to determine for themselves. If you die without a will (intestate), your state has its own laws regarding "rules of intestate succession" and it will disburse your assets for you.

I will mention some of the legal terms that you will see on the documents. This will sound better than saying, you, as the "will maker," want your spouse to act on your behalf once you're gone. A legal will uses legal terms so let's get familiar with some of them.

The Basics

Begin by listing yourself as the "testator" (male) or "testatrix" (female). List your name, address and whether or not you have a spouse. If so, list him or her. It will ask if you want your spouse to act as the administrator (executor/executrix) of your estate. That will be your personal representative.

(S)he must be a person who has the duty of trust, a "fiduciary." You may list an alternate representative, but the two must agree on every decision to be made. Their full names and addresses are also listed.

Children, Grandchildren, and Disinheritance

List the number of children, with full names and addresses. Three points here: 1) To avoid someone coming forward and claiming to be a genetic heir, you can add a clause called "pretermitted heir provision." 2) You can also disinherit a specific child so (s)he cannot make a claim in court and hold up disbursement of the assets. 3) Some states allow grandchildren to make claims against the estate. Make your wishes clear regarding them.

Guardianship

You can list a guardian for your children. Many courts require a bond of guardians, which is an additional expense. You can waive the bond requirement in your will.

Amendments/Codicils

Most states allow you to make a "non-testamentary letter" to your executor (give him a copy) so you can add dated amendments (codicils) later.

Personal Remains

What do you want done with your remains? Do

• 1
• 2
• Next Page >>