Types Of Wills
What is a "will"?
A will is an expression by a person of an intent to dispose of his or her estate. As a general matter, a will is a written document, signed by a person evidencing the testamentary intent of the person signing the will.
What is a "simple will"?
My definition of a simple will, is one that leaves property to one or more people and appoints an executor. A simple will perhaps confers statuatory powers on that executor, to ensure that is properly executed and so that it passes probate muster, but does not include any complications involving the estate and the disposition of the estate.
What is a "holographic will"?
Under California law, a holographic will is one that is entirely hand written by the testator and signed. Interestingly enough there is no requirement of a date with a holographic will, which means that it might be impossible if there are multiple holographic wills to know whether the holographic will presented was created before or after the last dated holographic will.
What is an "oral will"?
An oral will, also called a nuncupative will, is no longer acknowledged in California. The nuncupative, or oral, will historically involved a deathbed or dying declaration, not written, by a soldier in combat. Under the old California law, it applied to and could dispose of only $5,000 worth of assets. I don't know whether any state still has a nuncupative will, but obviously the circumstances would be unusual.
What is a "joint will"?
A joint will, is a will executed by a husband and wife which leaves their estate to each other and then to other parties on the death of the survivor.
How do I determine which type of will is appropriate for my circumstances?
In order to determine what type of will is appropriate for your circumstances, after you have determined what your estate comprises and after you have identified your beneficiaries, consult with someone who can give you the options - the pros and the cons - of one will or other estate planning device as opposed to another. It is unlikely that you would be able to make the decision regarding your will on your own.