What is a Will?
A will is a legal document that distributes a testator's assets after death to the testator's beneficiaries.
Why is a Will necessary?
A will is not a required document but it is very helpful for estate planning. Without a will, a decedent is said to die "intestate." When a a person dies intestate, their estate must be probated in the county where the decedent lived in order for their estate and assets to vest in their heirs legally. Under North Carolina, when a person dies intestate, the assets of the decedent are distributed under the Intestate Succession Act. Under this Act, the State of North Carolina decides who receives what assets of the decedent. Therefore, if you die intestate, which is without a will, then the State of North Carolina will be deciding who receives your estate after death.
Who may make a Will?
"Any person of sound mind, and 18 years of age or over, may make a will. N.C.G.S. section 31-1.
What types of Wills are common?
Under North Carolina law, personal and real property may be devised by:
- An attested written will,
- A holographic will and
- A nuncupative will.
What type of Will do I need?
The will recommended by Posch Law Firm is the attested written will.
What law governs Wills in North Carolina?
North Carolina general Statutes, Chapter 31 governs the execution of the will, the revocation of the will, the witnesses to the wills, self-proved wills, probate of wills, caveat towards wills, construction of wills, testamentary additions to trusts, incorporations by reference and acts of independent significance and reformation or modification of wills.
You may Chapter 31 governing North Carolina Wills here.