Types of Wills

A close up of a wooden gavel

The importance of having a Will cannot be overstated. There are many different types of Wills, and when it comes to estate planning, you'll want to make sure that you choose the right one. Your estate planning impacts your healthcare, assets, beneficiaries, and your loved ones. When you sign up for our Legal Protection Plans for Individuals & Families, you get a Will created for you by an experienced attorney at no additional cost. Read on for some information about the different types of Wills.

Simple Wills

A Simple Will is also called a Last Will & Testament, and it outlines how your assets are to be distributed when you pass away. A Simple Will can detail who is to receive your property, who will care for any minor children or pets you may have, and if you want to leave money to charitable organizations. Simple Wills are the most common type of will and are fairly straightforward and uncomplicated for those who do not have many assets.

Living Wills

A Living Will is designed to make you medical wishes known to healthcare providers in the event that you cannot voice those choices yourself. This type of will specifies details such as if you want life saving measures or life support, what types of medical treatment you want, and who can make decisions on your behalf if you become unable to make or communicate those decisions yourself.

Joint Wills

As the name implies, Joint Wills are a type of will that you make with another person. This document is generally used by spouses who intend to leave their assets to each other. The difference between a Joint Will and Mirror Will is that each person creates a separate document in a Joint Will, and Joint Wills cannot be changed independently.

Mirror Wills

As with Joint Wills, Mirror Wills are typically used by married couples who want to leave assets to each other, but the documents are identical in every way.

Holographic Wills

This type of will is handwritten and signed by the person who wrote it. It is generally not witnessed, but Holographic Wills have major drawbacks in that they are left open to interpretation by loved ones, which means that they can be contested in court.

Oral Wills

This type of will, also sometimes called a Nuncupative Will, is, as the name suggests, not written, but conveyed through speech. These types of wills are typically only used in extreme emergencies where there isn't time to write anything down. This makes them hard to authenticate and difficult to prove in court.

Pour-Over Wills

A Pour-Over Will is generally used in tandem with a trust. With a Pour-Over Will, your assets are transferred to your trust after you pass away, and then distributed from there according to your trust's terms.

With all the different types of Wills, knowing which one is right for your situation can be tricky, and making sure that your Will is legally enforceable can be difficult without legal assistance. Luckily, you get a free Will created for you by knowledgeable, dedicated, experienced attorneys with your paid membership to our Legal Protection Subscription Plans. That's right: for no additional fee, you can have the peace of mind of talking with an experienced estate planning lawyer, getting advice based on your situation, and having all the documents created for you for no additional cost! Your final wishes will be organized, detailed, and legal in the state where you live, giving you the peace of mind knowing that your loved ones will be spared difficult decisions in trying times. Learn more about these estate planning services or sign up today!