The Will Definederror

Before proceeding further, let’s define the will. It is a legal declaration of a person’s intention concerning what shall be done following the death, as to the disposition of the property and the administration of the estate. Three characteristics of a will set it apart from other forms of property transfer.

  • A will is revocable during life – you can change your mind.
  • A will is inoperative until death – it’s provisions don’t take effect until that time.
  • A will only applies to the situation that exists at death – as to the extent of your property holdings and beneficiaries.

There are well defined legal requirements regarding wills which relate to such matters as the capacity to make a will, execution, restrictions upon the disposal of property by will and revocation. These requirements, which are beyond the scope of this discussion, are a direct concern you should present to your lawyer.

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