Simple Will

Think about your prized possessions. It could be cash, jewelry, or your favorite bowling ball. You may not have a lot, but you want your loved ones to get what you have after you die. A simple will can help. Think of it as a wish list where you list who gets each of your prized belongings.

This article explains simple wills. You don’t need an attorney to create a valid will, but an estate planning attorney can help if you feel like you need guidance in crafting a valid will. An experienced attorney will understand your state’s laws and give you legal advice about your unique situation.

What Is a Simple Will?

A last will and testament (will) is a legal document. It’s your final wish for what happens to your stuff after you die. You can leave your property to anyone, like family members, friends, and charities.

You create a will while you’re alive. But your personal representative only distributes your property to your beneficiaries once you die. The probate court supervises your personal representative.

Probate is the legal process of settling your estate. The probate process can be long and expensive, but probate may be straightforward for estates with a simple will.

Your will is an essential part of your estate plan. Besides your will, a comprehensive estate plan includes documents like a:

• Financial power of attorney naming an agent to handle your financial affairs when you can’t
• Health care power of attorney designating an agent to make medical decisions for you when you can’t
• Living will listing your wishes for end-of-life care
• HIPAA authorization listing people authorized to get medical information from your doctors

An estate plan gives you peace of mind that your loved ones will be cared for if something happens to you.

A simple will is a type of will. It’s suitable for people who have a simple estate. You can always amend a simple will with a codicil if you need to change it later.

You don’t need a lawyer to make a will. Do-it-yourself wills often work for simple wills. You may need a more sophisticated will if you have a complex estate.

Is a Simple Will Right for Me?

There’s no hard-and-fast rule for determining if a simple will is right for you. It may meet your needs if the following describes you.

• Your estate isn’t large enough to owe estate tax
• You aren’t concerned about probate
• You’re young and healthy
• You don’t think anyone will challenge your estate

If the following describes you, you may need more sophisticated planning:

• You have minor children for whom you want to set up a testamentary trust
• You have a dependent who needs a special needs trust
• You want to avoid conflict between your children from a prior relationship and their stepparent
• You expect to owe estate tax
• You expect someone to challenge your will
• You want to avoid probate

What Are the Requirements for a Valid Will?

The legal requirements for creating a valid will vary by state. Generally, you must be of sound mind. That means you understand that you’re giving away your property. You must also have reached a certain age.

You need to sign your will. Depending on state laws, you must sign it before witnesses, a notary public, or both.

Some states let you create a non-standard will. A handwritten will, also known as a holographic will, is an example. Requirements for these wills vary. Generally, it must be in your handwriting, and you must sign it. Be sure to know your state laws if you use a non-standard will.

What Happens if I Don’t Have a Will?

You die “intestate” if you die without a will. Every state has intestacy laws that determine what happens to intestate estates. You shouldn’t depend on intestacy laws if you have specific gifts you want to leave. Creating a will ensures wishes for your property are followed.

Contact an Estate Planning Lawyer for Help

A simple will is often good for young people with a basic estate. It contains your wishes for who you want to get your property after you die. You may be able to use a template to create your own simple will, but an experienced estate planning attorney can help if you aren’t comfortable with do-it-yourself legal documents.