After you write your will, it is important to execute it as well. Here, executing means signing a will in accordance with the law to make it valid. The requirements are broadly the same in every state however some states have different permit exemptions to the normal requirements. Now, in this post we have detailed a step-by-step procedure to execute a will, but as a pro tip always hire a will and estates Law Firm in Kamloops before you draft or execute the document.
Step 1- Meet the age requirements
Generally speaking, all the states mandate 18 years as the minimum age for a person to execute a will. However, in some states minors are permitted to execute a will if they are emancipated by court order, married or serving in the armed forces.
Step 2- Satisfy mental capacity requirements
In order to execute a valid will, a person needs to be of a sound mind. In other words, a person executing a will needs to understand what property he has and to whom he would like to allot it. Additionally, the will can also be considered invalid if the person is coerced, forced or pressured into executing it.
Step 3- Use a signature block
A valid will must have a signature block containing the name, the date and a declaration that the will has been made voluntarily. Additionally, the will must also have a signature block containing the witnesses' personal information and signature along with the declaration that the witnesses saw you sign your name to the will.
Step 4- Hire an attorney
It is always a good idea to hire an attorney to draft the will or at least to review the will that has been drafted. This is because wills with errors and ambiguities can cost the family a great deal of money in legal fees and taxes along with emotional strain. So, it might just be worth instead hiring a professional to make sure that your will is as good as it can possibly be.
Step 5- Consult a tax attorney or estate planning professional
In case you have significant assets then there is a high chance your estate and beneficiaries may end up owning significant estate and gift taxes. To avoid the same consult an attorney or tax planning professional at the earliest.
Step 6- Keep your will safe and update as needed
Always place your will in a secure place and make sure someone you trust knows how to access it. Likewise, you can also make changes to your will if you get married, divorced or have a child.
Drafting and executing a will is generally a bit more difficult than what meets the eye. So, save yourself from the hassle and consider appointing a wills and estate law firm in kamloops such as Denham Law Firm.
