The wills are amongst the most traditional ways of estate planning. They are almost indispensable as far as the process of estate planning is concerned. The wills were used for the first time in the medieval age in England.
History of Wills
The wills are essential parts of the overall process of estate planning. The concept was used in England in the medieval ages. The wills served as fundamental instructions that showed the ways a dead individual wished his property and financial assets to be divided.
Importance of Wills
The importance of the wills lies in the fact that they are essential for the purpose of estate planning. It is imperative for any person, who wishes to distribute his properties before his death, to have a will that is valid as well.
Contents of Wills
The most basic parts of the contents of a will may be described as follows:
The person who wishes to distribute the property and then the right he has over the property
The intended beneficiaries
Description of the properties that are being distributed
Convenience of Wills
One of the main advantages of a will is that they offer a lot of convenience as far as the aspect of formulation is concerned. It is normally thought that the attorneys are important as far as the formulation of the wills are concerned. However, this may not be the case always.
Nowadays there are plenty of courts that are accepting wills that are handmade and have been made without any legal assistance whatsoever. There are some states in the world where the courts accept wills that are made orally. Yet it is normally believed that for the sake of authenticity it is best to have a lawyer make the will.
Wills Software Program
There are plenty of companies on the Internet nowadays that are providing the users with software programs that allow wills to be created on the personal computers themselves.
Last Updated on : 30th July 2013