What is Needed for a Valid Will
In order for your will to be valid, you must be mentally competent at the time the will is notarized. You must understand that you’re creating a will and what property you own. Your will won’t be affected if you lose mental competence after writing it; what matters is your mental state at the time the will is notarized.
States have different statutes concerning what’s required for a will to be valid. Generally, a will may be handwritten or typed, and must be signed by the person whose will it is. It must also be signed by at least two, and sometimes three, competent witnesses. Wills should be notarized by a notary public who witnesses everyone’s signatures. You and your witnesses must sign in the presence of each other.
If your hands are too shaky to sign your will, someone else may sign it for you. This is valid as long as you make the request and the person signs your name in everyone’s presence. Usually, you’ll sign your will first, your witnesses will sign next, and the notary public will sign last. Your witnesses should not include anyone named as a beneficiary in your will.
Your will should include the address and tax identification number of any property being listed. In the case of personal property, describe each item and where it can be found. Include in your will, or as an appendix to your will, the full names and addresses of all the beneficiaries you name. You may also name successor beneficiaries in case an original beneficiary dies before you do or doesn’t want the gift.
Changing or Revoking Your Will
As your life changes, you’ll want to change your will from time to time, or revoke your will and write a new one. There are many reasons for updating a will:
- desire to benefit a person or organization not originally named
- a named beneficiary dies or your relationship with them changes
- purchase or sale of a business
- sale or destruction of an asset that was originally in your will
- relocation to a new state
- inheritance of a large amount of money or an expensive asset
- purchase of a new home or vehicle
- death of a named beneficiary
In the past, changes to a will were made using a “codicil” – an official addition to your existing will, handwritten or typed and signed by you before two witnesses, just like the original will. However, the codicil has become obsolete as a consequence of the widespread use of computers in will preparation. To change your will, simply print out a new one that incorporates the changes, and sign it before at least two witnesses. The witnesses don’t have to be the same people who signed your original will.
When you prepare a new will, it’s as if your old one never existed. You can state in your new will that you “revoke all prior wills and codicils,” and you can physically destroy it by burning it, writing “cancel” over each page, or shredding it. If your attorney or personal representative has the will in a file, it should be destroyed in your presence.
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