Will, in law, is a document that disposes of a person’s property after the person’s death. The person who makes the will is called the testator, if a man, and the testatrix, if a woman. Personal property left by will is called a bequest, or a legacy. Real estate left by will is called a devise.
Most wills are prepared by lawyers, who can make sure that the formal legal requirements for wills are satisfied. Wills must be in writing and signed by the testator or testatrix and, usually, two or three witnesses.
Each state of the United States and each province of Canada has laws governing wills. Some laws require that a will be witnessed. Other laws do not. The number of witnesses required may also vary. Many states do not allow witnesses to get any benefits under a will. Some states accept a holographic will, or one prepared in a person’s own handwriting and unwitnessed.
A person may die intestate (without a valid will). The person’s property then descends, according to state law, to the individual’s spouse and relatives. If the person is not survived by a spouse or relatives and leaves no valid will, the individual’s property may escheat (transfer) to the state in which the person lived.
Administration.
People may dispose of their property in any way they choose. But in most states, the spouse of the testator or testatrix cannot be completely disinherited. In Louisiana, the children of the testator or testatrix must also receive a share of the estate. The will usually names some person as an executor. The executor must see that the provisions of the will are carried out. If no executor has been named, the court that has jurisdiction over estates may appoint an administrator, whose duties are the same as those of an executor. For the faithful performance of their duties, executors must give a bond (written pledge to pay money) or provide for surety (a person who agrees to pay if the executor cannot). If an executor does not faithfully carry out the provisions of the will, the bond is forfeited. Usually, the giving of a bond may be waived if the will so provides.
Estate plan.
It is desirable that people who own considerable property have an estate plan in which the will is only a part. If a person owns more than a certain amount of property upon death, both the government of the state where the person lives and the U.S. government will collect an estate tax. A properly drawn estate plan may save many thousands of dollars that otherwise would have to be paid in estate taxes.
Codicil
is an addition made after a will has been prepared that changes the will in some way. People may alter or destroy their wills at any time. Such alteration will be legal provided that the will maker is of sound mind and the alteration was not caused by undue influence from parties interested in the change. The codicil must be made according to the formalities required by state law just as the will must be. If the will must be witnessed by two people, then the codicil must be witnessed by two people.
