A will or testament provides information about the transfer of property, ornaments or land, from the testator to his beneficiaries, after his death. Everyone, regardless of age, needs a will. Without a will people wouldn’t know to whom their assets would go. A will is a general term and is used as the instrument in a trust, while testament applies only to dispositions of personal property.
Besides mentioning, as to who would own the property, after the death of the testator, the last will and testament also provides details about, carrying out the burial of the testator. He appoints an executor, as his personal representative who takes over the responsibility of paying his left over debts, obligations as well as pays for his funeral expenses. However, the executor is not entitled to get any surety bond connected to the last testament.
A testator may mention in his last will, the name of a particular organization that would conduct the rites of his burial or transference. He may also put a clause, which specifies that, his body be sent without autopsy or embalming, to a funeral home designated by the organization. A copy of the last will is given to the funeral home by the organization, as it helps in preparing and facilitating the transportation of the body.
The last will and testament carries details about the testator’s wishes, including whether or not his body be enshrined or entombed at a chosen place after death. Since the rites of burial and transference can be very elaborate, detailed, thorough, and lengthy, the organization may incur an extensive cost to carry out the rites. In such a case, the testator can make pre-arrangements with the organization, by donating money that would assist them in carrying out his last wishes. The appointed executor is responsible to pay for the burial expenses in case the testator has not made such arrangements. The last will and testament provision for burial gives details of performing the final rites as per the wishes of the testator, soon after his death.
Every time someone dies there are certain rules and regulations that need to be followed by the relatives of the deceased. These rules and regulations can vary widely in different parts of the world, and even within the same country. In Utah different states may have slightly different rules on what can and should be done.
If you want to know about filing Utah last will and testament, it’s worth going online and doing a search to see what rules apply at present about filing Utah last will and testament. This is extremely important to ensure that you do all the things that are required by law to ensure that your last wishes will be recognized and met. Filing Utah last will and testament does not have to be daunting however. So long as you have the right information it can be a relatively painless procedure. So long as you pay proper attention to the laws that are specific to this state there shouldn’t be any problem.
Filing Utah last will and testament needs to adhere to the probate laws that the state has had for over a century and a half. You need to be eighteen or over and have two witnesses who can sign the will at the same time that you do. The law goes into great detail about how the will should be written, and it’s worth going online to access these details from Utah legal firm.
While many people make their own wills and use home DIY kits to do so, if your last wishes are complicated or you simply need some clarification about filing Utah last will and testament, then it is worth seeking out the services of a lawyer in this particular state. They will make sure that you comply with all the finer points of the law, and your wishes are written down in such a way as to ensure that all your loved ones will be well taken care of.
Filing Utah last will and testament may seem like a big event at the time, but when it is done you will know that everything is dealt with and no longer needs to be an issue. Just make sure the relevant people know where your will is and know what to do in the event of your death.
Apart from the sorrow that is brought about by a person’s passage, sometimes there’s more sorrow that follows when it comes to dealing with the assets a person leaves behind. So many siblings and families have been torn over battles to control inheritance – that is why persons with a significant amount of assets are often advised to prepare a last will and testament long before they get to their death beds.
A Last Will and Testament is a legally binding document that indicates the planning, management and distribution of a person’s properties, estate and assets based on his approved instructions and specifications. Last Wills and Testaments can take on two forms that address distinct and significant roles regarding the treatment and management of a person’s related funds, assets and estates.
The first, a will-based plan, usually helps a person decide on the manner of distribution of his assets by clearly enlisting the details about who gets what and under which conditions, in case of his death. This plan covers substantial points, primarily covering the selection of a Personal Executor and the scope of authority and power to be granted to the same, and the identification of the individuals or parties who will inherit the properties and assets. Terms, conditions, mode of transfer and other necessary details are also outlined in this will-based plan.
The second form is a Trust-based Plan which covers a person’s Revocable Living Trust and takes care of the points outlined in the will-based plan. In this case, the equivalent of a Personal Executor is called the Administrator or Successor Trustee once the person owning the assets dies. The Revocable Living Trust is tasked to manage unfunded property of an individual, and the same individual needs to finance his assets into the trust prior to his death so the trust agreement can take effect any further action regarding his assets after his death. A Last Will and Testament must be designed, prepared and documented under the jurisdiction of a lawyer who can objectively guide the asset owner through the intricacies of estate distribution and the legal conditions that go along with it.
To ensure the safe passage of the estate of the deceased to their successors, it is wise to use a professional quality last will and testament. The last will and testament holds the final instructions of the person making it, to set forth the means by which to distribute the person’s property in the event of his death.
Every state has enacted its own laws that have to be followed and whatever necessary requirements are contained in such laws shall form the basis for drawing out the last will and testament. The maker of a Will should have attained at least the age of 18 years or be older. He or she must be sane and in control of his or her faculties and must not be making the Will under any erroneous or destructive influences.
The last will and testament is the final Will that will revoke all previous Wills and specify the manner in which all properties and assets of the maker are to be disposed of. The last will and testament must be in writing, signed, and witnessed in a manner specified by applicable laws of the state. The maker of the Will should be in good health without being under any emotional strain. A wise person will not leave the making of a Will for some calamity to befall him or her and will have thought out the contents of the Will well in advance and have made the Will under normal circumstances.
A will can be made as often as one wants but the last will and testament is the one that the maker deems to be his final Will. In case the maker only wants to add some legal clauses or wishes to amend the Will, this is done through a “codicil”.
The last will and testament will specify whether the person making it is married or not and whether or not he has any children. In case the person is married, the last will and testament will specify the name of the spouse as well as all the names of the children that the person has. In this manner, the identities of all family members are established.
To establish how all necessary expenses related to funerals, personal debts as well as inheritance taxes, transfer taxes and estate taxes are to be paid, the last will and testament may ask an independent executor to pay such expenses out of the amounts remaining from the estate. Furthermore, the last will and testament will then state how the estate of the deceased will be disposed of. This may include the names of persons in an order that specifies that if the first person so specified should fail to survive the maker of the Will then such estates shall pass on to a second person, who, if he fails to survive the maker of the Will, will cause the estate to devolve on to a third person. In addition, the last will and testament may instruct through a letter to the independent executor as to how the personal and other household items are to be disposed off.
The last will and testament may also state how to treat those successors who contest the will. It can clearly state that such successors be debarred from obtaining any proceeds from the estate of the deceased. Such last will and testament shall finally be signed and attested as well as witnessed by at least one witness.
Contemplation about your death is never pleasant, but doing the wise thing by foreseeing the possible circumstances of your demise and impact on your family is an honorable act. A last will is a document/form that will ensure your wishes are upheld upon your death.
The most important reason why you probably want to make a perfect last will and testament is because you want your loved ones to inherit your precious wealth. You can also use a last will to determine whom the legal guardian(s) for your children will be. A tax efficient last will can help ensure your wealth is mainly transferred to your loved ones by allowing you to name an executor of your will. The executor will ensure the application of the will.
There are a few basic things you should consider while making your will. Make your will at a young age before you’re so old or become so senile that it could be argued you were too mentally incompetent to execute your last will and testament. Also, remember to always date your last will since a newer last will always cancels out the older last will and testament. Finally, it’s best to keep your last will as simple, precise, and as easy to read/understand as possible. Whomever the will is for (the “testator”) must sign their last will and testament in the company of at least two witnesses who are not beneficiaries of the will and can attest to it. Each page of the last will and testament must be signed by the testator, numbered, and dated accordingly (any corrections must be countersigned). It is best to keep the will in a safe place you and the beneficiaries know about; typically this is a bank vault. Any signed copies can be held by an advocate. Codicils can be attached to it and read out to make changes in the will. Although, if there are too many changes it’s best just to write a new will.
The main contents of the will are:
Appointing a guardian is important if you have minor children. If you do not appoint a guardian the state will appoint one for you and this can mean CPS (Child Protective Services) in some cases. The guardian for the minor must be over 18 years of age. The guardian must also be previously consulted about your decision to appoint him/her as the guardian.
An executor’s job is to pay off taxmen, creditors, cancel credit cards, subscriptions and distributes the testator’s assets according to his/her will. The executor can be a spouse, a friend of yours, a family member, a trust company, or a lawyer. You could start getting ready to write your will today by taking an inventory of your assets, and who receives them. Consider your family’s future liabilities in the case of death, and decide for yourself if you want to do the honorable act.
A last will and testament is a legal document, which prepares a person and his family for the unavoidable possibility of his untimely death. There are some basic facts that have to be considered while making a will. It should be made at a young age and must always be dated, as the latest version of the last will and testament nullifies the value of earlier wills.
The main contents of a will are the testator’s name and place of his residence. It should have a brief description of his assets, names of parents, spouse, children and other beneficiaries. The will should also include alternate beneficiary, gifts to people, establishment of trust, and the cancellation of debts, if desired. Other important fields are name of executor who would manage debts, taxes and estate, name of guardian to look after minor children, testator’s signature and a witness signature.
A testator may adopt a procedure that helps to write a will. He can start by organizing a list of assets, beneficiaries, outstanding debts and family members. He can consider the needs and future liabilities of different beneficiaries and also decide whether to form trusts. An inventory of assets should be prepared, that gives a clear picture about the number or type of assets, and the testator should try to clear away all outstanding debts.
A last will and testament should be simple, precise and must be signed by the testator in the presence of at least two witnesses, who are not beneficiaries. The testator must number every will and the corrections must be countersigned. He should be clear and specific while naming beneficiaries, as it would prevent any contesting of the will.The most important fundamentals of a will are, to appoint a guardian for minor children and an executor for the will. The age of the guardian must be over 18 and must have been consulted previously. In case the testator doesn’t name a guardian, the state has the right to name a guardian for his or her children.
In case of updating a last will and testament, the testator may create a postscript or illustrate a completely new will that will eradicate any past versions of the will.