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What Is Last Will and Testament Form?
In case someone’s passing, writing a last will is something that later will help him/her to take care of the assets after passing. Besides writing about the will, this also talks about the details about things to happen in the future as well as other issues that should be fixed after a death.
Besides, the last will and testament form will also provide essential and details about who will inherit your property, when will be inherited and the value as well as the executor. The personal executors are also called as the personal representative who will be in charge to settle your assets and guide al the process.
To make you will succeed you will also need to give a power to the executor. Also, if your children are still growing and not mature enough to handle your will, choose a guardian until they reach certain ages.
Who Are Involved In The Last Will and Testament Forms?
As we mentioned above, there are several aspects that will be included in your last will and testament forms, which are as follows:
- The executor – An executor will take the responsibility of your will and guide people who will have business with your assets after death. Sometimes people choose a family member as an executor, but usually, it is not suggested because it will lead to a problem. Picking one of the family will lead to unnecessary drama in the future as other family members will think about the favoritism. It is due to the executor’s power so it is better to bring someone outside the family that can carry it in an objective way.
- The beneficiary – A beneficiary is a person that you will leave something after your death. It can be more than one person if you wish to and there is no limit at all. Besides, the beneficiary can be a person or an organization as the recipient of your wealth. In pointing the beneficiary, it is also important to make the decision clear to avoid problems and in this case, you will inherit something objectively.
- Alternate Beneficiaries – You can put the alternative beneficiaries when someday the person is no longer alive. It is an important thing to do because we will never know what the future held. It can be that the main beneficiaries are no longer alive when it reaches the inherent process.
- The Witness – The witness is someone who will attest that you are not under stress when signing the document in the future.
To make your will more valid, it should at least has two witnesses even though they don’t need to read and this must be someone who doesn’t inherit anything. Besides, you don’t need to notarized your will. However, in certain countries, the person and the witnesses should sign an affidavit to make it legal. After that, keep the will safe and also accessible and make sure the executors know where it is.