Estate Lawyer Des Moines IA

Wills

A will is a legal document that allows a person to ensure their final wishes are carried out. By completing a will, a person directs how to distribute personal property, real property, money, and particular items to the intended beneficiaries. A will also allows a person to choose trusted individuals to act as their personal representatives, who will take charge of the estate, wind it up, and distribute it according to stated wishes.

In the absence of a will, a person risks having their property distributed by a court-appointed stranger according to their state’s laws of intestacy or escheating (forfeiting) to the state. This may result in a longer and more expensive administration process than a will would require, and the property may wind up being distributed against the deceased’s wishes.

Other benefits of preparing a will may include:

1.The ability to name a guardian for dependant children to ensure they are cared for as the parent would wish. If both parents of a child or children die without a will, a court-appointed guardian takes custody of any minor children and of the parents' estate.

2. People often use a will to express their final wishes for burial, cremation, and/or organ donation.

3. A properly written will may result in significant estate tax savings, allowing a person’s loved ones to benefit even more from their generosity.

4. Clearly stated wishes in a will can minimize family disputes and the burden of intestate administration.

An attorney is not needed to prepare a will. Requirements vary by state, but most states require two witnesses to sign the will at the direction of the maker. Statutes commonly allow anyone 18 or older to make a will. The will maker must have testamentary capacity, meaning that he/she is of sound mind and acting under free will, understands the nature and situation of his/her property and his/her relations to those persons who would naturally inherit, and understands the nature of the actions taken. Wills are not required to be filed with the court prior to death, although some states allow a will to be filed with a probate court of recorder’s office.

Common terms used in wills:

Testator - A person who died after making a will. A female will maker is often called a testatrix.

Executor - The person named in the will who is responsible for administering and settling the estate. A female is often called an executrix.

Bequeath - To give by way of a will, often used to refer to personal property.

Devise - To give by way of a will, often used to refer to real property.

Residue - The property remaining after all specific gifts have been disposed of. A will often contains a residuary clause that leaves to all property of the deceased not otherwise disposed of to a residuary beneficiary.

Self-proving affidavit - Some states allow this affidavit to be used at the time of the execution of the will to verify the valid signing of the will. It may simplify the pro...