Last will and testament: what is it?   A legal document that lists decisions regarding how the writer's property will be managed after his or her death is called a last will and testament.
A last will and testament makes sure that the writer's assets are handled in the way he or she would want if still alive.
Upon death, a last will and testament is used to determine how money or assets are used to care for any minor children left behind.
Any investments or savings accounts will be managed by a person appointed as responsible in the last will and testament.
This legal document may also list any advance directives or other health care decisions important to the writer.
  Last will and testament requirements   The most important requirements for a last will and testament are related to the validity of the document.
It must be signed by the writer, also known as the testator, and signed by witnesses who can confirm the will is valid.
The testator and witnesses should be able to demonstrate that the last will and testament was written without force or provoking and that the writer was in a proper state of mind.
The last will and testament should also name an executor, or someone to carry out the wishes of the last will and testament.
  Do I need a last will and testament?   Whether we realize it or not, death could be right around the corner for each of us and a last will and testament can prepare us and our survivors for the end of our lives.
There are some basic legal requirements for the testator of a will.
In most states the testator must be at least 18.
If you have any assets or personal property, that is, if you own anything, you have the right to decide what happens with it when you die.
If you have minor children, you can extend this right to decide what should happen to them as well as your property.
  When should I create a last will and testament?   Opinions vary on when to create a last will and testament.
As soon as children enter the family life, parents should create a last will and testament to plan for the care and provisions for their children.
Having one's wishes recorded in a legal document can provide peace of mind when potential changes occur.
A last will and testament should be updated with each major family change, such as the birth of a child or the death of a spouse.
These changes must be made in the same way that the original legal document was created, and signed by the testator and witnesses.
It must be noted that these amendments supersede any previous editions of the last will and testament.
  Who is involved in my last will and testament?   The testator and the witnesses are involved with the creation of the last will and testament.
Upon the testator's death, the estate attorney determines who gets a copy of the last will and testament.
This list of people usually includes the executor, any beneficiaries or guardians, the testator's accountant, governments, and the Department of Public Records.
If a last will and testament is filed for probate, it is then available for anyone to read.