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Last Will and Testament
Last will or testament is a document that has vital information on the ratio at which a person wishes to distribute his property and possessions, after death. Last will and testament basically regulates the rights of others over the testator's property and family, after his death. Everyone, regardless of age, should prepare a will and register it, to protect their assets. People above 18 years of age are officially permitted to draft their wills. They are usually formulated with the help of typewriters or word processors.
There are some states that recognize holographic wills. These wills are handwritten, unwitnessed wills and are signed only by the testator. There are a few states that recognize oral wills, under certain specific conditions. Some offer a standard will form that has to be duly and correctly filled.
There are video wills, where the person reads out his will before a video camera. Videotaping a will helps to avoid a will being contested, by displaying that the person was competent and followed the proper signing formalities. However, many states do not recognize a video will, as a substitute for a written will. In specific circumstances, the person has to prepare both types of will.
Generally, a last will and testament format has sections that state the declaration, appointment and guardianship made by the testator. The name of the testator is mentioned in the beginning, followed by three sections. The testator begins by declaring his sound state of mind while making the last will and may nullify the wills written at an earlier stage, if any. The testator furnishes complete details of his place of residence, his last wishes that are to be fulfilled and the name or names of the relatives or beneficiaries who are to benefit by the property or the assets.