Types of Wills to Distribute Complicated Assets

a last will documentYour will is important. An invalid will can bring severe misunderstandings into your family in the future. It doesn’t matter whether you are 60 or 19. Any one person over 18 with control over their mind can make a will, provided they have belongings.

Wills in Townsville have to meet some conditions so that they can be legally binding. The will must be in writing, and two witnesses must sign it.

However, there are exceptions to these conditions. Make a point to consult with your attorney to make sure that your will is valid. Learn about the various kinds.

The trust-related will

Sometimes you want your beneficiaries to receive their inheritance without involving the courts. Often, in this case, your attorney might advise you to use it alongside a trust. A testamentary trust is a will that transfers part of all your estate into the trust after you die.

A pour-over will, on the other hand, will work with the trust before you die. It ensures that none of your properties get lost in the process.

The holographic will

Mostly handwritten, this will is valid even without a witness’ signature. The only requirement is that the testator signs it and dates it. They will also need to provide information such as the executor. These wills can be murky if contested. It is best to consult with an estate law attorney before you go this direction.

The oral will

Also known as the nuncupative will, this will is a record of the testator’s word before their death. It needs to have been recorded in the presence of one or more witnesses. This option is most likely valid if done in the deathbed as opposed to a voluntary voice recording by a fully functioning testator.

Of all the wills, the best one to use is the handwritten one. However, you can use the basic will if you have straight-forward directions for distributing your property. It is useful if you have few children and little assets.

It could also be that you intend to leave your assets to one person in which case, a simple will is fitting. Otherwise, always go for the handwritten will, but even more importantly, involve a good attorney.