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What are the requirements to create a legal will?

| Feb 12, 2020 | Estate planning |

Creating a will allows you to state your wishes for what happens with your property after your death. While it may not be something you want to think about, having a will is very important if you own valuable assets or have minor children. Your will is a legal document that the court will uphold as long as you followed the law in creating it. 

The Knoxville Bar Association explains that you need to be at least 18 years old to create a legal last will and testament. You must be competent under legal terms, which means you understand what you are doing when creating the will. You also cannot be under anyone’s influence when drawing up the document. You must sign the document yourself. 

You will also need to have witnesses to your will. The witnesses must be over the age of 18 and not be people who will inherit anything from your estate. If your will is handwritten, it must be in your handwriting. If you type it, then it is common to have it notarized after you and the witnesses sign it. 

You may also create an oral will, but this is not common. It is only valid if you are in immediate danger of dying and you do die as a result of that immediate danger. You must state it is your last will and testament. There must be two witnesses who are not heirs who will verify its validity. In addition, one of the witnesses must put the will into writing within 30 days of your oral statement. This type of will has a value limit of $1,000 for the assets you leave to heirs.