When planning for the future, it’s more than just putting your name on a list of those who will benefit from your estate. Each type of legal document has a specific purpose and some may require witnesses, notarization or other formalities in accordance with local laws. Knowing what they are can prevent issues down the line.
This guide discusses the common types of estate planning documents, when notarization may be needed, and what to consider before creating a will or a power of attorney.
What Are the Different Types of Estate Planning Documents?
Estate planning documents are legal documents that outline how you wish to have your belongings, finances, health care, and other needs addressed.
Common documents include:
- Last will and testament
- Trust documents
- Financial power of attorney
- Healthcare directives
- Beneficiary designations
- Guardianship instructions
The requirements for signing and notarizing these documents can vary by state or jurisdiction.
Does a Will Need to Be Notarized or Witnessed?
Different state laws have different requirements regarding whether a will needs to be notarized. Notarization is not a requirement in many jurisdictions for a will to be valid, but a self-proving affidavit may render the probate process easier.
When getting a will, it is important to confirm the requirements in the signing state and not assume that it must be notarized.
Do Last Will and Testament Documents Need Witnesses?
Last will and testament documents will typically require that they be signed and witnessed in a certain way. Even if no will requires signing by a notary, a notary can still be engaged in a self-proving affidavit. Requirements vary so appropriate will preparation needs to adhere to the laws of the will maker.
Can You Make a Will Online?
Online services may offer templates and information for individuals who want to learn how to make a will But filling out a form is just one step.
People who prepare their wills online should ensure that the will is signed and witnessed as required by local laws. A flawed will could cause undue difficulty.
How to Write a Will Properly
Learning how to write a will involves more than listing beneficiaries. A will should clearly identify the person making it, explain how assets should be distributed, and address other relevant wishes.
Important steps may include:
- Identifying beneficiaries
- Choosing an executor
- Naming guardians for minor children when applicable
- Describing important property
- Reviewing beneficiary designations
- Following signing and witnessing requirements
Are Will Forms Legally Valid?
While will forms can be useful for organizing information and offer a basic structure, filling out a will form does not automatically render it legally binding.
The document must meet the requirements for execution as necessary. Typographical errors, improper witnessing, or failure to follow required formalities can create complications during probate.
What Is the Difference Between a Will and Power of Attorney?
There is a difference between a will and a power of attorney. A will usually deals with the disposition of some assets on a person’s death, and a power of attorney provides authority for someone to act for another person while the other person is living.
They are not to be used as a substitute for one another, and each might have specific signing and notarization requirements.
Which Estate Planning Documents Need to Be Notarized?
No. Not every document has the same requirements.
For instance, a will may need witnesses, and the rules of notarisation may differ in various jurisdictions for a power of attorney. There may also be different requirements for the formalities of trust documents and healthcare documents. When examining estate planning documents, make sure that you review the requirements for your area.
What Should You Know Before You Make a Will Online?
If the situation is simple, an online service can be useful; however, it should be known that there are certain limitations. When deciding whether to make a will online, consider:
- Whether the document complies with local law
- Whether witnesses are required
- Whether notarization is required or recommended
- Whether the estate is simple or complex
- Whether trusts or tax-planning considerations are involved
More complex situations could require one-on-one legal consultation.
Conclusion
With appropriate estate planning documents, you can help ensure your wishes are understood and lessen the confusion for your loved ones. There are several different types of will, power of attorney, trust and healthcare documents, each with different purposes and requirements for signing.
If you use wills, fill them out or prepare them on the internet, or use an attorney, ensure that they are filled out in compliance with the laws applicable to you.
Frequently Asked Questions
How do you make a will?
To make a will, you should determine who is to receive your inheritance, designate an executor, describe the distribution of your property and adhere to the rules governing the signing and witnessing of wills in your jurisdiction.
Is getting a will online legally valid?
A will obtained via an online service may be valid when it has been properly drafted and witnessed in accordance with law. No formalities or witnessings are waived for online preparation.
Do wills online need to be notarized?
No online wills are required to be notarized just because they are online. It depends on the laws under which the will is formed and executed whether or not a notary is required.
Can will forms be used without a lawyer?
Will forms might be appropriate in some simple scenarios, but they need to be filled out and executed properly. The complexity of the assets, family circumstances or trusts may need professional legal advice.
What are last will and testament documents?
Last will and testament documents outline a person’s assets in a general manner following death and can address issues like who should serve as an executor and guardianship for young kids.
What is involved in will preparation?
Will preparation will include determining who will benefit from your estate, who you want to be the executor, making major decisions about how the estate will be distributed, and making sure that the final document complies with legal obligations.
Can you make a will online?
Yes, it is possible to make a will online using certain services. However, the completed document still needs to meet the legal requirements for signing, witnessing, and execution in the applicable jurisdiction.
How do you write a will?
When learning how to write a will, clearly identify who is making the document, name beneficiaries, address important property, choose an executor, and follow local requirements for valid execution.
Does a power of attorney replace a will?
No. A power of attorney generally applies during a person’s lifetime and allows another person to act on their behalf, while a will primarily addresses the distribution of property after death.
Which estate planning documents may need notarization?
Some estate planning documents may require or benefit from notarization, depending on local law. Powers of attorney, self-proving affidavits, trusts, and other documents can have different requirements, so local rules should be checked.
