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Estate Talk - What do you have to have in order to make a will?
06/09/2019
Estate Talk - What do you have to have in order to make a will?
What do you need to make a will? At the heart of the matter are three key considerations that you absolutely must have in order to make a will. They are: 1. Capacity Capacity means you are of sound mind, aware of what’s going on, what assets you have and who you want to give them to. You’re giving a gift, just in the future. In order to give a gift, you need to know what you’re giving and to whom. And with a will, you are setting that down on paper at a certain point of time for a transfer to happen later. 2. Free Choice You can’t be threatened to put certain things into the will. It has to be entirely up to you as far as what you are giving and to whom. Sometimes we refer to this as not being under duress, or not being coerced into taking a particular course of action. 3. Proper Execution In the State of Illinois, to properly execute a will, you need to have two witnesses who are not related to you, as well as a notary. And they will affirm that you are of sound mind when you are executing the document, that what is in the document reflects your choices, and that you are aware of what you are doing and what decisions you’re making. These are just the basic elements you need to have in order to make a will, not a checklist of everything that should go into such a document. The actual provisions of a will are going to cover many more things, such as naming an executor and beneficiaries, and hopefully including provisions to streamline the probate process and avoiding costs where possible to do so. To talk more about such points, consider an . --- Estate Talk focuses on Illinois estate planning and other estate topics. You will find information on wills, trusts, healthcare planning, protecting you family, charitable giving, asset protection, and more. It’s here to help you create value and worry-free security for your family and loved ones. Estate Talk is produced by Ian Brodsky of Windy City Legal, a law firm located at 53 W. Jackson Blvd., Suite 1510, Chicago, Illinois, tel 312-278-1187. Estate Talk and the videos and other content posted there are attorney advertising material and not legal advice for any particular situation or matter.
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