Howard Hughes And The Mormon Will, Requirements Of A Will, Execution Of Wills, Testator's Intent
A document in which a person specifies the method to be applied in the management and distribution of his estate after his death.
A will is the legal instrument that permits a person, the testator, to make decisions on how his estate will be managed and distributed after his death. At COMMON LAW, an instrument disposing of PERSONAL PROPERTY was called a "testament," whereas a will disposed of real property. Over time the distinction has disappeared so that a will, sometimes called a "last will and testament," disposes of both real and personal property.
If a person does not leave a will, or the will is declared invalid, the person will have died intestate, resulting in the distribution of the estate according to the laws of DESCENT AND DISTRIBUTION of the state in which the person resided. Because of the importance of a will, the law requires it to have certain elements to be valid. Apart from these elements, a will may be ruled invalid if the testator made the will as the result of UNDUE INFLUENCE, FRAUD, or mistake.
A will serves a variety of important purposes. It enables a person to select his heirs rather than allowing the state laws of descent and distribution to choose the heirs, who, although blood relatives, might be people the testator dislikes or with whom he is unacquainted. A will allows a person to decide which individual could best serve as the executor of his estate, distributing the property fairly to the beneficiaries while protecting their interests, rather than allowing a court to appoint a stranger to serve as administrator. A will safeguards a person's right to select an individual to serve as guardian to raise his young children in the event of his death.
The right to dispose of property by a will is controlled completely by statute. Since the 1970s, many states have adopted all or parts of the UNIFORM PROBATE CODE, which attempts to simplify the laws concerning wills and estates. When a person dies, the law of his domicile (permanent residence) will control the method of distribution of his personal property, such as money, stock, or automobiles. The real property, such as farm or vacant land, will pass to the intended heirs according to the law of the state in which the property is located. Though a testator may exercise much control over the distribution of property, state laws protect spouses and children by providing ways of guaranteeing that a spouse will receive a minimum amount of property, regardless of the provisions of the will.
Brown, Gordon W. 2003. Administration of Wills, Trusts, and Estates. 3d ed. Clifton Park, N.Y.: Thomson/Delmar Learning.
- Hubert Louis Will - Further Readings
- Will - Howard Hughes And The Mormon Will
- Will - Requirements Of A Will
- Will - Execution Of Wills
- Will - Testator's Intent
- Will - Special Types Of Wills
- Will - Revocation Of A Will
- Will - Protection Of The Family
- Will - Other Limitations On Will Provisions
- Will - Cross-references
- Other Free Encyclopedias