Business & Finance Personal Finance

What Is the Difference Between an Oral Will and a Simple Will?

    Oral Wills

    • Oral wills are spoken rather than written. State laws may refer to them as "nuncupative wills." Only a few states recognize this type of will and, in the states that do, they are only allowed in specific situations. According to FreeAdvice.com, soldiers on active war duty, sailors at sea or persons in immediate danger of death may declare an oral will and have it be effective. In Ohio, one state that recognizes this type of will, the document must be put down in writing by two "disinterested witnesses" within 10 days after the testator speaks the words. A disinterested witness is someone who will not benefit under the will or is not related to the testator.

    Holographic Wills

    • A holographic will is a type of "simple will"; it must be handwritten by the testator and dated. Usually, no other formal requirements, such as witnesses' signatures, are required. Like oral wills, not every state recognizes a holographic will. Alabama, Connecticut and Delaware, for example, do not recognize this type of will. In states that do not recognize holographic wills, the will must comply with the state's probate code.

    Statutory Wills

    • A statutory will meets the state's minimum requirements for a will. In general, states require that the will is in writing, signed by the testator and signed by two witnesses who saw the testator sign the will. Only adults may create a will; generally you must be at least 18 and "of sound mind." Being of sound mind means that the person has not been declared incompetent by a court. No specific wording is required to create a will. The writer must simply meet the minimum requirements and intend that the document control the disposition of his property.

    Importance of Your Will

    • Your will must be recognized by your state in order to be valid. In states that recognize oral wills, holographic wills and statutory wills, you can choose what form you want your will to take. Whatever form you choose, it is crucial that you plan your will carefully and be conscious about what you are doing. Your will is your last instructions and wishes. It is, essentially, the parting words you leave behind when you die.

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