Preparing your own will? Watch out.

For those people who insist on preparing their own wills, beware of defeating the purpose of a Will by making the following mistake:

“I give the sum of $50,000.00 to my brother, all my household furnishings, appliances and personal property to my wife, and the sum of $75,000.00 to my two children from a previous marriage.”

This will is incomplete because it does not dispose of all the remaining property this individual may have at the time of his or her death. Accordingly, this person will be deemed to have died “intestate” (the legal term for dying without a will) with regard to all his property not disposed of by the above provisions in his will. His estate then is subject to significant additional expense in having the part of the estate not disposed of in the will administered in probate court.

A qualified attorney is always your best bet in preparing a will, but, if you must do it yourself, be sure to add a residuary clause that includes language which disposes of “all my remaining assets”.

Category : Probate Law &Trust Litigation &Will Contests

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