A Last Will & Testament tells your family members and the courts who should inherit your assets after you die. Since a Will reduces family disagreements and saves court costs, it is an important legal document every person should have. This Legal Package contains three different legal documents to help protect your family and estate: a Last Will & Testament document, an Assets & Accounts List document, and a Disposing of Bodily Remains document.
Learn More about Virginia Last Will and Testament Documents
What is a Last Will and Testament?
A Last Will and Testament is the first building block of a good estate plan. Estate planning is the process by which an individual or family arranges the transfer of assets in anticipation of death.
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Definition of Last Will and Testament
A will or testament is a legal document that declares the distribution directives of the person or the testator's property at death. It also contains the person who will manage his estate and has the authority to distribute the property of the testator upon his death, as written on his will or testament.
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Overview of Estate Planning
Estate planning is the process of getting your affairs in order so that if you pass away unexpectedly, things will be much easier for your loved ones.
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A Primer on Estate & Inheritance Taxes
When you die, you leave your home, your possessions, your money, and other things of monetary value to spouses, children, family members, friends, charity or religious institutions. The government wants its share. Some argue that estate taxes can provide for future generations. Others argue that is robs inter-generational businesses of the capital they need to keep growing.
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Communicating Your Estate Planning Wishes to Your Heirs
Open communication from parents about their estate planning wishes gives children time to adjust their expectations and ask questions. Be open and honest about your intentions with your heirs.
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Composing Your Last Will and Testament
A Last Will and Testament is a legal document that outlines how you want your properties or estate distributed, once you pass away. Since this is such an critical document for you and your heirs, it is important that you understand its various components.
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The law of Virginia states that a will-maker be at least 18 years of age in order to write a valid will. Two witnesses, not directly named as beneficiaries in the will, are required to attest to the will-maker's signature at the time of the signing. 12Law.com makes it easy to create Last Will and Testament documents that meet all legal requirements for Virginia. Click the Create Document button, above, and follow the simple, step-by-step instructions to finish in minutes.