Creating a Legal Will

Creating a will isn't the most exciting activity, but at some point in your life, it should be completed. Wills can be updated as you grow older and acquire more assets, but a basic will should be in effect should anything happen. There are a few things that must be done before a will is legally binding, and this article will explain those factors and advise you about how to implement them.

Types of Wills

Few people are aware of this, but there are actually several types of wills, and you should know which one you are creating so that your will serves you and your family most effectively.


1. Simple Will - This is used for people with a straight-forward estate that requires no complicated handling. A simple will distributes the assets for an individual among as many people as he or she desires.

2. Testamentary Trust Will - This type of will sets up one or more trust funds into which your assets will be distributed after death.

3. Pourover Will - A will that leaves some or all of your assets in a trust already created before death.

4. Nuncupative Will - This is an oral will - spoken, but not written - that is recognized in only a few states. There should be multiple witnesses for this type of will.

5. Joint Will - If a husband and wife want to write a will together, they use a joint will. This is illadvisable for estates larger than $700,000, and can raise severe complications.

6. Holographic Will - This type of will is not witnessed and is written in the testator's handwriting. Only about half of the states recognize this type of will.

7. Living Will - A living will is not used to distribute assets after death, but to inform medical professionals of your wishes should you become incapacitated or in need of life support. This is a separate document from any other type of will.

Age & Ability

There are laws that dictate whether or not an individual can create a will. In most states, the testator must be at least eighteen years of age, or in some cases, legally emancipated. An emancipated minor can, in some states, create a will, but only if they are serving in the military or legally married.