Will Preparation in Farmington, Arkansas
In Farmington, Arkansas, many of the dilemmas that sometimes come with a will, such as would-be beneficiaries challenging its validity, or devises which don't make it clear who gets what (resulting in costly and time-consuming litigation) can be avoided if the will is well-drafted in the first place.
The process of drafting and executing a will can be very simple with the average estate which has only a moderate amount of assets held in only a few locations (a couple bank accounts, a house, maybe a stock portfolio). This is also true if the decedent simply wants to give their property to a few immediate family members, without setting up a complex trust arrangement.
However, even if the will is comparatively simple, some problems which are very easy to avoid can still complicate the process. A good Farmington, Arkansas wills and trusts lawyer can help you avoid these problems.
A significant percentage of the problems that prevent wills from taking effect are caused by failing to follow the required formalities in will preparation. In most states, wills need to be witnessed and signed by at least two people who have no direct interest in the matter. They also have to include a clear written statement that the document is, in fact, the testator's will. It also has to be witnessed by at least two people. Witnesses cannot be anyone who has a direct interest in the will, which includes close relatives of the testator and anyone who's named in the will.
Holographic Wills in Farmington, Arkansas
In some states, testators are allowed to make "holographic wills." This is a will which the testator hand-writes, in his or her own handwriting. Such wills do not need to have any witnesses to be given effect.
Holographic wills are typically construed very broadly. Knowing that it was not written by an expert, a court will usually look at the common definition of words, and use other common-sense principles when it comes to interpreting a holographic will. This is necessary to avoid conflicts, and increase the chances that the testator's wishes are honored.
You should be aware that not all states recognize holographic wills. In such states, you can of course still handwrite your will if you want. But for the will to be valid, it has to be accompanied by all the formalities (including witnesses) needed for any other will.
If your state allows them, a holographic will might be a good way to go in some cases. For example, if you don't have an unusually large amount of money, and simply want to leave your assets to close family members, or even to a single person (such as a spouse), it probably wouldn't be a problem. However, even in cases like this, it's never a bad idea to make a will with the help of a lawyer.
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How Can A Farmington, Arkansas Lawyer Help?
Because of the formalities that are required for most wills to be valid, it is usually a good idea to have a Farmington, Arkansas attorney help you make it, or at least go over it after you have written it, to make sure there aren't any problems with it.