Why People Think Lawsuits Are A Good Idea

Why People Think Lawsuits Are A Good Idea

Types Of Wills

Death is something that cannot be controlled or even prevented and thus important to make sure that after you are gone, your kids or other heirs properly get portions of your assets according to your wish and hence the need for writing a will. However, a will is not just a document with rules and guides from the property owner but is a legal document which must meet some standards as required by the court in order for it to be valid.

Any person who is below eighteen years is not ion a legal capacity to write a will according to the legal systems of many countries especially in Kenya as they are not considered to have sound mind for making the right decisions. When writing a will, you should generally pick a very close person to you who will execute the will to the heirs after you die. Wills come in four major categories and thus important to learn about them first before you can write one. The following is a discussion about the four known types of wills.

Simple wills are the first category of the wills that are very popularly used in various parts of the globe. Simple wills are very good in cases where the nature of the assets to be distributed to the beneficiaries is not complicated. Every will should be typed and not handwritten and so is the simple will. The name, address and marital status of the testator as well as the instructions for the division or distribution of the property are some key elements of simple wills. It is the testator and the executor who is the witness that are required to sign date of the will in the court of law.

There are also the testamentary trust wills which have also helped so many people in different parts of the world. In this kind of a will, there will be a provision to place your asset into a trust whose terms will determine how the assets are distributed to the beneficiaries. The other common type of a will is known as a joint will which are used by couples or spouses who want to leave the property to another.

A joint will cannot be revoked after the death of the spouse owning the estate. The last type of a will is the living will whose purpose is to provide an instruction on the life-saving measures to be used when you are unable to communicate or express the wishes by yourself.

5 Takeaways That I Learned About Lawsuits

5 Takeaways That I Learned About Lawsuits

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