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Willify
Product Description
What is a Last Will and Testament? A Last Will and Testament is a legal document which allows you to control how your estate will be distributed after you pass away. A Last Will also enables you to appoint a guardian for your minor children as well as provide instructions and set aside funds for the care of any pets you may have.
Who should use a Last Will? A Last Will and Testament should be used by anyone over the age of 18 to help avoid potential disputes or confusion regarding your estate. A Last Will is especially important for parents with minor children as it will allow you to appoint a guardian and have a say in how your children will be raised.
How do I write a Last Will and Testament? Creating a Last Will doesn't have to be difficult. Whether you decide to use Willify online software to create your Last Will and Testament or visit a lawyer, you should be prepared to address the following:
Who is the Testator
The testator is the person whose property will be distributed upon death - that's you. Female testators are often referred to as the testatrix.
Designate a Beneficiary
A beneficiary is a person or organization who will receive a gift under your Will. Designating a beneficiary allows you to control who will receive your property after you pass away and help avoid any confusion or disputes. If you don't designate any beneficiaries, the courts will distribute your estate among your surviving family according to a pre-determined formula. In that case your friends or charities would receive nothing.
Name an Executor
An executor is a person who will administer the Will according to your written terms and is sometimes referred to as a personal representative. You should choose a trustworthy and responsible person for this important task.
Provide for Children and/or Pets
If you have children who are still minors, you should name a guardian who will be willing to care for them. You may also choose to set aside funds specifically for the care of your children or pets.
Review and Sign
If you have completed your Will, it's important to carefully review the document to make sure that it is free of errors and accurately reflects your wishes. Once you have verified the Will is accurate, it is critical that you sign the document according to the laws of your country.
Why is a Last Will Important? A Last Will allows you to give instructions on who will get your property after your death, appoint the person who will administer your estate, and appoint a guardian for any minor children you may have. If you die without a valid Will, your property will instead be distributed by a court-appointed administrator according to a pre-determined formula (defined in state law).
Without a Will, you would not be able to give your property to a non-relative or to exclude relatives. If you have no Will and there are no relatives at the time of your death, your property will go to the state.