Learning About Different Types of Wills
Whether you are young or old, single or married, wealthy or with limited financial means, healthy or dealing with a medical condition, it is important to make a will. Many people have incorrectly heard that wills are only necessary for particular people, such as those with a substantial amount of assets or for older adults in poor health. Yet wills are critical for adults of all ages, and an experienced Oak Park estate planning lawyer can help you to make one. Before you begin working with a lawyer on a will, you might start conducting your own research into wills in Illinois and the requirements for a valid will. In so doing, you are likely to come across information about many different types of wills, and you are probably going to wonder whether you will need more than one kind of will.
In short, there are different terms that can be used to describe the form or function of a will, as well as some distinct types of wills. Our Oak Park estate planning attorneys can explain in more detail.
Will
A will is a written document under Illinois law through which a person can bequeath their real and personal property to other persons or entities at the time of their death. Under the Illinois Probate Act, a will “includes an electronic will, certified paper copy of an electronic will, testament and codicil.”
Electronic Will (E-Will)
An electronic will, or e-will, is what it sounds like -- a will made electronically. Given the language of the Illinois Probate Act, you can see that an electronic will is considered valid in Illinois.
Pour-Over Will
A pour-over will is a type of will that says all of the remaining assets belonging to the testator (the person making the will) will be transferred into a particular existing trust at the time of their death.
Self-Proving Will
Wills are understood to be self-proving when the will itself, without contact from witnesses, proves its validity. For a will to be valid and legal in Illinois, you must sign it in front of two witnesses, and the witnesses must sign it in your presence, as well.
Holographic Will
A holographic will is a term for a handwritten will. Generally speaking, these are not valid in Illinois.
Nuncupative Will
A nuncupative will is a term to describe a will that is made verbally or orally. Generally speaking, these are not valid in Illinois. Similarly, video or recorded audio wills are not valid in Illinois.
Living Will
A living will is much different from the types of wills discussed above. It is not a document through which a person bequeaths assets. Rather, it is a document that is one of several “advance directives” available in Illinois through which a person makes clear their medical wishes in the event they become incapacitated and cannot voice their choices or decisions themselves about life-prolonging care.
Contact an Oak Park Estate Planning Lawyer Today
If you have any questions about wills in Illinois, or if you are ready to make a will, you should get in touch with an experienced Oak Park estate planning attorney at our firm. Contact the Emerson Law Firm for more information about how we can assist you with a will and other aspects of estate planning in Illinois.
See Related Blog Posts:
Wills and Disabilities: What to Know
Younger Parents Need an Estate Plan
In short, there are different terms that can be used to describe the form or function of a will, as well as some distinct types of wills. Our Oak Park estate planning attorneys can explain in more detail.
Will
A will is a written document under Illinois law through which a person can bequeath their real and personal property to other persons or entities at the time of their death. Under the Illinois Probate Act, a will “includes an electronic will, certified paper copy of an electronic will, testament and codicil.”
Electronic Will (E-Will)
An electronic will, or e-will, is what it sounds like -- a will made electronically. Given the language of the Illinois Probate Act, you can see that an electronic will is considered valid in Illinois.
Pour-Over Will
A pour-over will is a type of will that says all of the remaining assets belonging to the testator (the person making the will) will be transferred into a particular existing trust at the time of their death.
Self-Proving Will
Wills are understood to be self-proving when the will itself, without contact from witnesses, proves its validity. For a will to be valid and legal in Illinois, you must sign it in front of two witnesses, and the witnesses must sign it in your presence, as well.
Holographic Will
A holographic will is a term for a handwritten will. Generally speaking, these are not valid in Illinois.
Nuncupative Will
A nuncupative will is a term to describe a will that is made verbally or orally. Generally speaking, these are not valid in Illinois. Similarly, video or recorded audio wills are not valid in Illinois.
Living Will
A living will is much different from the types of wills discussed above. It is not a document through which a person bequeaths assets. Rather, it is a document that is one of several “advance directives” available in Illinois through which a person makes clear their medical wishes in the event they become incapacitated and cannot voice their choices or decisions themselves about life-prolonging care.
Contact an Oak Park Estate Planning Lawyer Today
If you have any questions about wills in Illinois, or if you are ready to make a will, you should get in touch with an experienced Oak Park estate planning attorney at our firm. Contact the Emerson Law Firm for more information about how we can assist you with a will and other aspects of estate planning in Illinois.
See Related Blog Posts:
Wills and Disabilities: What to Know
Younger Parents Need an Estate Plan
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