1555 Palm Beach Lakes Blvd Suite 1410

West Palm Beach, FL 33401

24/7 Customer Support

What Is a Will? Definition, Uses and Importance.

Jump To Section

Copy the following HTML iframe code to your website:

Share This

A document that directs the disposition of a person’s property upon death. A will is a legal document that coordinates the distribution of assets after death. A will can appoint guardians for minor children and also designate beneficiaries and executors of the estate.

Should you have a will?

A will is important to have, as it allows you to communicate your wishes clearly and precisely so that there is no confusion about what happens with an estate after someone passes away.

Different types of wills

There are other types of wills which include holographic wills, which are handwritten, and oral wills. Holographic wills are also called “nuncupative”—and are not valid in many states. Based on your individual circumstances an estate planning attorney can guide you on which will is the best fit for you.

The most common type of will

Attested Written Wills are the same as simple wills and are the most common type of will. An attested written will is typed and printed, then signed by the testator and two witnesses.

What makes a will valid?

At least two witnesses must either see firsthand the testator signing the document or hear the declaration of the will.

What happens if you lose an orginal will?

If a will is lost your personal representative or executor may need to prove to the court that the will actually existed and is valid. The burden of proof to show it is real is on the proponent of the will. A proponent of a will is defined as the person presenting the will and must show that it is valid.

Lifespan of a will

A will is valid for the lifetime of the testator but practitioners usually recommend that your will be reviewed and updated after big life changes like marriage or the birth or death of the loved one. Changes in assets or net worth may also warrant the updating of a will to account for all assets.

History of wills

The first use of the Will as we know it can be traced back to ancient Greece and Rome. These documents were used to transfer possessions between deceased male citizens and their heirs. Wills were most commonly used by citizens without children or relatives.

« Back to Glossary Index
Search for more common probate terms
Search

Get Your Inheritance Money Now!

Our Inheritance Cash Advances help heirs receive a portion of their inheritance payout in just a few days. We then wait and are paid directly out of your share when the estate finally closes. We wait for probate so that you don’t have to. Click below and fill out our short form to receive an advance immediately.

Probate Costs
Play Video

If you are an Heir or Executor to an Estate, You Don’t Have To Wait For Probate!

Inheritance advanced Logo
comodoCreated with Sketch.
employee_ownedCreated with Sketch.
bbbCreated with Sketch.
customer_satisfactionCreated with Sketch.

Inheritance Advanced is an inheritance funding company, not a lender. We offer Inheritance Cash Advances which are a new and innovative option for heirs to receive the immediate cash they need during challenging times. This program allows an heir the benefit of receiving immediate money, in exchange for their future inheritance.

Inheritance advances are a way for heirs to receive immediate funds without providing credit or employment verification and they don’t require collateral. You also will not be responsible for high monthly interest payments like probate loans or inheritance loans.