What is a Form Will?
A form will is a document that you can purchase, which is said to contain all the legal language needed to write a will, but leaves blanks in places where the document must be personalized, like for the person¿s name and address. Are Form Wills Recognized by Law?
Form wills are recognized by law as valid wills. However, one should be very wary of using a form will for a number of important reasons: - Form wills do not allow you to take into account special circumstances
- Form wills usually do not take into account important matters like federal and state estate taxes
- Form wills give little to no guidance on how to properly execute a will
As a result of these deficiencies, form wills keep people from setting up an estate plan that would most benefit their estate and family after they die. Also, because of the over-simplified approach, form wills make it easier for people to contest the will. Finally, while form wills are technically legal, because of the problems mentioned above, courts tend to look more closely at the validity of a form will. This results in a slower legal process for probating the estate, which often mean more expense and frustration for the people who have to manage your estate after you die. Do I Need an Estate Planning Attorney?
If you are considering using a form will, please speak to an estate planning attorney before doing so. It is almost certain that your financial and family situation may experience complications that should be dealt with in a personalized will. |
