Estate Planning – Wills – basic planning for the distribution of assets after death. Drafting and executing a Will is a major component of estate planning. A Will is an instrument executed by a competent person, whereby property is deposed of after death.
In Illinois, a Will:
- Must be in writing
- Must be signed by the testator
- Must be witnessed by 2 or more witnesses.
A testator must be at least 18 years of age, and must have knowledge of the contents of the Will.
Other forms of Wills:
Holographic Will: A handwritten will. Valid in Illinois, if properly witnessed. A typewritten translation of the holographic will may be required by the probate court, if the estate is probated.
Noncupative Will: Oral will – no writing. Can exist only when the testator declares his will orally before witnesses. Not valid in Illinois.
Living Will: Also known as an advanced directive, allows an individual to instruct physicians not to utilize life sustaining medical treatment in the event of a terminal illness.
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More information on testamentary capacity
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For more information, or to schedule a free consultation for estate planning
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