A will refers to the final documents of the person who makes the will. There is a criterion set by the state laws that make the will legal. The purpose of setting a will is to provide the name or nomination of a person who has the authority of the property and money after the person is deceased. The reason is to mention all the important elements that are required in a will.
Elements of The Will
The will contains particular criteria and elements that are stated by the state laws and as per the person who makes the will. The elements must be as per the state rules and policies. Here are elements that are mentioned in the will.
Name of The Person
The name of the person or relative and the relation to that person should be mentioned in the will. If you are excluding a person from your will, that too must be mentioned. It will help both the person who is making the will, and the one for whom the will is made.
List of Assets
A proper list of assets should also be in the will, whether it is the number of properties, houses, or the number of accounts that the person has. All these things should be mentioned in the will. The type and number of insurance policies and the amount of the policy needs to also be mentioned.
If the person has minor children, then it must be mentioned. If the will contain properties for the minor children, it should be clearly specified. The minor children after the age of eighteen years must get all the rights and ownership of the particular asset.
This article was written by Alla Tenina. Alla is one of the best bankruptcy attorneys in Los Angeles California, and the founder of Tenina law. She has experience in bankruptcies, real estate planning, and complex tax matters. The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information. This website contains links to other third-party websites. Such links are only for the convenience of the reader, user or browser; the ABA and its members do not recommend or endorse the contents of the third-party sites.