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Creating Your Will
Before drafting a will it is important to gather information on your family and property in order to develop an appropriate estate plan. Important life decisions must be made, such as naming a executor of your estate, a guardian of your children and a trustee for any trusts created. We have find it helpful to provide our clients with a Will Questionnaire to assist them in narrowing the issues. From our conferences with you and your completed questionnaire, your Will is created. You have the right to make health care decisions about the medical care you receive. In addition to drafting your Will, we can provide a Living Will and an Appointment of Health Care Agent for your review and execution. If you have any questions, please do not hesitate to contact us at (203) 226-9800 with any questions or concerns you may have.
- What are the capacity Requirements of a Testator?
- Will Execution Requirements
- What if the effect of a Will?
- Property not transferred by a Will
- Sherriff & Sherriff Services & Fees
- Getting Started
- Living Wills
- Health Care Agents
Capacity Requirements of a Testator
Generally, in order for a will to be valid, three requirements must be met by the person executing the will (the "Testator"):
- Age 18 or older
- of sound mind and memory
- has right to give away real and personal property owned at time of death
Requirements for Executing a Will
There are several for the form and execution of a valid will :
- the Will must be in writing
- signed by the testator
- attested to in the presence of at least two credible witnesses. Witnesses may be any person over the age of eighteen (18), but may not be a beneficiary or creditor of the testator.
The purpose of a will is to dispose of property belonging to a testator at the time of the testator's death. This includes both real and personal property. The document is flexible and may be used to direct all of the testator's property or just certain items of the testator's property. The will is flexible enough to place certain restrictions on property and in the case of complex wills, may even contain trust provisions. Even a simple will may contain a simple trust provision that ensures that any minor children that may survive you will have their benefits held for them.
Without a Will, property will pass via the law of intestate succession. This law is a distribution scheme determined by the Connecticut legislature and will often be different from what the testator's desires. A simple Remainder Clause will ensure that anything not designated in the Will will be distributed via other provisions of the will.
Property not transferred by Will
A Will is not the proper device for the transfer of certain property. A Will does not effect any interests which have already named a beneficiary, such as life insurance proceeds or a pension plan. A testator may, however, direct that these sort of items be paid to the estate of the testator and thus, these items would make up part of the residue of the estate. There are significant tax consequences to naming an estate or a trust as a beneficiary. Jointly held real and personal property, such as a home and jot bank accounts, are not effected by a the law of intestacy.
Additionally...
A testator will also choose a guardian for any minor children, a trustee to manage any trusts set up for the minor children, and name a executor for the estate upon probate of the will. The Executor will administer to the estate, including paying all debts, distributing the proceeds from the estate. The trustee will manage trusts (if any) that have been created by the Will. Sherriff & Sherriff suggests that you give careful consideration as to whom you choose to name in this trusted positions.
Additional Services
For a small addition fee, at the time of the execution of your will, Sherriff & Sherriff will provide the following document, per your request:
- Living Will
- Appointment of Health Care Provider
- Durable Power of Attorney
