Last Will and Testament
A will is somewhat like a cooking recipe. In much the same way as a recipe lays
out a set of instructions for preparing a particular dish, a will lays out the instructions
for distributing the assets of the person who created it (also known as the "testator.")
Unlike cooking recipes, though, wills must meet certain formal requirements before
their instructions may be acted upon. Those requirements are set out by the laws
of the state where the will is administered. To make a will, you must have legal
"capacity." Having capacity means you must be of sound mind and free of undue or
improper outside influences. You must also be of legal age (which means at least
18 years old in most states.) The will must meet certain execution requirements.
These requirements vary by state but, in most states, wills must be (1) written,
(2) signed by the testator and (3) witnessed. Many states have laws that create
exceptions for the first two requirements, although those exceptions are typically
very narrow. The third requirement usually involves either one or two witnesses
and must be done in a special manner established by state law. To be activated,
a will must be certified by the probate court as part of what's call "estate administration."
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