Last Wills Frequently Asked Questions

Do I need a Last Will and Testament?

Generally, the answer is yes and we recommend everyone prepare a Last Will and Testament in case your circumstances change unexpectedly prior to your passing.  But, not everyone does need a Last Will.  This answer depends a lot on how much you own, what kind of property you own (both real and personal), how you own it (jointly or individually) and if you have any dependents.  If you do not have any dependents and the property you own will automatically pass at your death to another person by operation of law or a contract, then you may not need a Last Will and Testament.  There are many exceptions to this which is why it is best to consult an attorney if you are not completely sure.

What is a Last Will and Testament?

A Last Will and Testament is a document that allows you to express your wishes and desires for when you pass. In this document you make decisions about the distribution of your assets and property. You decide on the guardians of any minor children. You can even express your desires on your funeral ceremony and what you would like to happen to your remains. Some people even choose to include personal messages to their survivors, heirs and/or family or to create a trust for those they care for.

I have a Last Will, do I need a new one?

That depends on whether you have had any major changes in your life since your last will was enacted or if you changed your mind on any decisions made in your most recent Last Will.  Most Last Wills specifically revoke all prior Last Wills.  If you answer yes to any of the following questions then you need a new Last Will.  Have you lost your Last Will?  Have you been married since enacting your most recent Last Will?  Have you been divorced since enacting your most recent Last Will?  Have you had any children born or expecting any children to be born since enacting your most recent Last Will?  Have you adopted any children or are expecting to adopt any children since enacting your most recent Last Will?  Have you acquired real property since enacting your most recent Last Will and the Will does not provide for the distribution of this property?

What is an Executor or Executrix?

An Executor is the person who carries out the wishes contained in your Last Will and Testament.  An Executrix is a female Executor.  While Executor is now generally used to refer to both sexes, older wills used Executrix to differentiate between the genders.

What is a Testator or Testatrix?

A testator is the person who wrote the Will and whose Last Testament is carried out in the administration of his or her estate in accordance with the desires contained in the will.  A Testatrix is a female Testator.  While Testator is now generally used to refer to both sexes, older wills used Testatrix to differentiate between the genders.

Can I create a Trust in my Last Will?

You can establish a trust in your Last Will and Testament. This trust can be for whatever purpose you want; to support children or friends or family, for charitable purposes, or other purposes. Your Will sets out the terms of this trust and appoints a Trustee to oversee and administer the trust. The Trustee will manage the assets of the Trust and disburse them in accordance with your instructions. There are pros and cons for trusts and you should consult your attorney and tax professional if you are interested in establishing a trust in your Will.

What is the residue of my estate?

You can dispose of assets a couple of different ways in your Last Will and Testment.  You can fund a Trust you create in your will.  You can make specific bequests of specific items to specific people.  Any asset not disposed of by these two options and remaining in your estate becomes part of the "residue" of your estate.  The residue is usually then left to a person, persons or class of persons or heirs.

What is a codicil?

A codicil is an amendment to a Last Will.  Instead of revoking an existing will, a codicil amends or modifies parts of a will.  These were more popular in the past when Wills had to be handwritten or individually typed.  In the age of word processors it is just as easy to enact a new will as it is to modifying an existing one with a codicil.