Philadelphia Will Lawyer
Death is a reality of life, and we all must appropriately prepare for it’s coming. We all should determine who and what is important to us, and make decisions reflecting our determinations in the event of our passing. A will is a legally-binding document a lawyer can prepare for you which identifies who is to inherit your property and/or care for your minor children when you die.
Benefits of a Will
A will protects the person the will is for (the testator), allowing them to transfer their Estate to the chosen beneficiaries. Without a Will, a person dies intestate – meaning their property will follow applicable intestate rules. In this situation, a person without a will has no decision in how their property is devised.
Obviously, this is not what you want. You want to have a say in what happens to your estate. With a will, you can choose your beneficiaries, and disinherit those you don’t want to receive anything. The provisions of your will can also ease the transition of the property and reduce the tax burdens on your estate.
Beyond property, a will can allow you to determine who will become the guardian of your minor children in the event your death leaves them without one. Ensuring both the financial and physical well-being of your children alone should provide sufficient justification for forming a will as soon as possible. In brief, a will protects your interests, and those of your loved ones for the time of your passing.
Requirements of a Will
A will is only effective if it meets certain requirements. If it fails to do so, the deceased will pass just as if they had died without a will at all. Therefore it is very important to retain a knowledgeable lawyer who will make sure everything is done correctly, and thus ensure the will’s viability.
To be effective, the will must be written; it cannot be oral. In addition, the written will must be signed by the person the will is for. It also has to be signed by two disinterested witnesses – who have no stake in the will as beneficiaries – who observe the person’s signature. Finally, the individual whom the will is for must be of “sound mind” when they sign the will. This means they must be able to think logically, without impairment by substance, disease, or deterioration.
Why Do I Need a Lawyer?
A lawyer can prepare a document which sufficiently reflects your wishes, and which is legally effective. By preparing the will and making sure all requirements are met, a lawyer can ensure that your will is valid and expresses your priorities. Hiring a lawyer for a will is the best thing you can do to protect your loved ones and your assets.
This content was written on behalf of Greg Prosmushkin.