A will can be defined as a document in which a person specifies the method in which will be applied regarding the management and the distribution of his estate after his death.
A will is a very important document that permits that person, whom is called a testator, to make decisions concerning how his estate will be managed and distributed after his death occurs.
It is important for a person to leave a will because if he doesn’t the person will have died intestate. This will result in the distribution of the estate according to the laws of Descent and Distribution.
A will has multiple purposes. Primarily it enables an individual to choose their heirs instead of the laws of descent and distribution to select the heirs. A will grants personal choice, which is often a big decision, what person can best serve as an executor of their estate. A will also grants a person’s right to select a person to act as a guardian to raise their children if a death should take place.
In order for a will to be valid, there must be three valid components to it. First one must have a competent testator. A testator is considered to be of sound mind at the time he draws up his will.Second, the will must meet the execution requirements, often called the Statute of Wills. Third the document must be clear in that it the testator intended the will to have legal effect. These are very basic requirements and are key points in establishing a will.