Wills, in and of themselves, are complicated but important documents. When you make a written revision to your will, it’s called a codicil. Your will can incorporate such a revision, but the codicil must meet specific requirements. For instance, just as your Will was signed and witnessed – so must your codicil be. Further, your codicil should refer to your will by date and should be attached to the original document. Because your will is critical to your legacy and your family’s future, it’s highly recommended that you retain an experienced estate planning attorney to draft both your will and any codicils that might be necessary.
Back in the day, wills were drafted on typewriters, which made codicils a more efficient means of amending the original documents. Today, wills are written on computers, so it’s nearly always more effective and efficient to simply draft a new will if revisions or amendments need to be made. Your estate planning lawyer will discuss your options with you and will guide you toward the choices that best suit your needs.
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When it comes to your will, it’s imperative that you think ahead. After all, the future simply isn’t known to any of us, and your family’s future is your top priority. Having a will drafted by an experienced attorney will not only guarantee that your legacy is executed in the manner that you see fit but will also provide you with invaluable peace of mind. Your will matters, but it’s important to remember that codicils were created for a reason – to allow you to revise your will as your estate and your family’s needs evolve. What you commit to your will now very well may change with time, but because the future is unpredictable, you’ll have protections in place throughout life’s journey.
If You’re Ready to Create a Will, Call 201-498-9768 Today for More Information
Estate planning can be extremely complicated, but you shouldn’t let that scare you off. Your estate is your legacy, and it’s critical to your family’s future. Don’t leave your estate to chance; consult with an experienced estate planning lawyer. At John L. Schettino law, I’ll work with you to draft a will that reflects your current needs and that can be readily revised to address your future needs. I’m here to help, so please contact or call me at 201-498-9768 for a free consultation regarding the drafting of your will today.
It’s commonly said that where there’s a will, there’s a way, but the legal sort of wills take a bit more work than simply pushing through by the force of one’s willpower. However, they can be a very powerful tool for protecting your assets and worldly possessions. To ensure that your loved ones receive that which you intend for them, it’s important to understand exactly what a last will and testament entails.
Types of Wills: There are several types of legal wills, some of which are far more common than others. Overall, each of them sets out the legal guidelines of your wishes for your property distribution, as well as ensuring the care of any minor children you may have. Here are the four major types of wills:
- Testamentary Will: This is the most common type of will that people are familiar with and which they will most often encounter in their personal dealings. It is signed formally with witnesses present. This type of will is also sometimes known as a self-proving will. This is the most secure will to ensure that your wishes will be successfully carried out.
- Holographic Will: These are written without any witnesses present, and if challenged, are very difficult to hold up in a court of law.
- Oral Will: Not fully recognized legally, oral wills are spoken before witnesses and not formally recorded.
- Living Will: These are very different from the above wills, and do not deal with the distribution of one’s assets. They deal primarily with your wishes for your medical care, should you be unable to later communicate those decisions on your own. Common issues in living wills include end of life care and artificial resuscitation.
The Importance of Wills: While the most commonly understood purpose of a will is to make sure that your assets reach their intended recipient, there are several other majorly important reasons to have a will. Having your wishes in writing will keep tensions between survivors to a minimum, and ease some of the difficulties that your family will be facing at that time. If you intend for some or all of your assets to go to a charity which you particularly support, this should also be outlined in your will. Most importantly, if you have minor children, your will is set up to ensure their long-term care. Without a will, the state will be in charge of distributing your assets, and may not do so in the manner you would like.
To Prepare Your Will, you should enlist the service of an experienced attorney. You should compile all of the financial information you have regarding your assets and debts, including any sentimental items or pieces you would prefer to go to a particular individual. Your will can be changed by adding on a codicil amendment, or by replacing your old will entirely. For your legal needs, I can help you to ensure your will is legally sound and represents exactly what you wish for the future of your assets. Contact me, John Schettino today at (201) 498-9768 for a free consultation.