Everyone who is born must die. Death is a part of the life cycle which one cannot escape. However the wisest thing to do before one dies is to write a will. This not only helps the inheritance pass on to the desired individuals but also prevents family feuds for the sake of the wealth of the beloved one who passed away. It is often tormenting to settle such disputes in the midst of bereavement.
There are different types of wills. An estate planning attorney in Los Angeles can help to decide on what kind of will to write depending on the accumulated wealth and one’s personal desires and interests.
Simple will
A simple or statutory will is the simplest and most common one for those who have relatively small and uncomplicated estates. However there are only a few states in the US that recognize this as a valid one.
Pour over will
A pour over will transfers any property owned by the descendent at the time of death into a trust. These assets have to go through a probate before it is transferred into the trust. A probate administration attorney helps in the able administration of the trust thereafter.
Holographic will
A holographic will is one that is handwritten and signed by the testator or owner. It is not signed by any witnesses and therefore is not recognized in most of the US states. Further these wills do not meet most of the necessary standards laid down by the state laws. It is wise to take the advice of an estate planning attorney.
Oral wills
Nuncupative wills are oral wills that are orally stated by the testator before witnesses. This will dictates the distribution of assets which needs to be carried out. It is not valid in most of the states unless the testator made it under extreme circumstances like perceiving an immediate death.
