WillMaker Will Frequently Asked Questions

WillMaker Will Frequently Asked Questions

How can I tell whether the WillMaker will is the perfect one for me?
What are the bounds of WillMaker’s will?
What do I need to create my WillMaker will?
Can WillMaker be used to create a joint will with my spouse?
Can WillMaker be used to create a pour-over will?
Is there a common catastrophe provision in WillMaker’s will?
Is the WillMaker’s will divided “per stirpes” or “per capita”?
Is a list of my property included in WillMaker’s will?
Can I use WillMaker to specify what happens to my frozen embryos, sperm, or eggs?
What should I advise my executor about selling my property and dividing the proceeds?
I have real estate in another nation. Can I use WillMaker to leave the property to my children?
How can I learn more about writing a will?

How can I tell whether the WillMaker will is the perfect one for me?

WillMaker gives a simple will that may be used by many individuals. It is private, simple to manufacture, and inexpensive. However, it is not for everyone.

Our will may not be suitable for you if you have:

difficult property (for example, a shared business)
Difficult family ties (for example, you’re concerned that someone may fight your will), or complicated property wants (for example, you want to put conditions on gifts)

What are the bounds of WillMaker’s will?

WillMaker enables you to create a legally binding will that meets the demands of the majority of individuals. However, we have included certain limitations in the software. These constraints guarantee that your will remains legal and enforceable, while also keeping the application basic and straightforward to use.

The following is a list of characteristics that WillMaker’s will does not have. If you want your will to accomplish these things, see a lawyer.

Make conditional bequests.
Make joint wills.
Name coguardians for children’s property and explain your reasons for leaving.
Property control after death

Find out what WillMaker’s Will cannot do.

Here’s some information on what the WillMaker CAN DO.

What do I need to create my WillMaker will?

It will be simpler to create your will if you first collect the following information:

a basic inventory of your possessions (but if you plan to leave everything to one or a few people, you can skip this)
a list of beneficiaries (the persons who will inherit your possessions)
a list of alternative beneficiaries – the persons who will inherit your property if your first pick does not survive you. If you have small children, the recipient will die before you. a list of your top two selections for guardianship of your children’s birthdates
a list of your top two executor options information regarding debts you wish to forgive, including the date you loaned the money and the amount you want to forgive

Can WillMaker be used to create a joint will with my spouse?

No. Even if you and your spouse agree on how to divide your possessions, you must create your own will using WillMaker. This regulation is supported by sound legal rationale. After the first spouse dies, joint wills restrict the surviving spouse from changing their mind about what to do with the property. A joint will, in fact, binds up the property for years and makes it hard for the surviving spouse to respond to changing circumstances. In addition, numerous legal fights are waged over whether the surviving spouse has the right to revoke any section of the joint will. As a result, collaborative wills are becoming more rare. A trust is typically a preferable option if you wish to limit how your property may be used after your death or make particular arrangements for children from a previous marriage.

However, with the download version of WillMaker, you and your spouse may simply make identical wills – that is, two different wills with similar provisions (such as beneficiaries and guardians for children). If you wish to do this, seek for the “Duplicate for Spouse” option at the conclusion of the will interview on the Congratulations screen (after the Print Preview screen). The duplicate-for-spouse function is not yet available in the online edition of WillMaker.

Can WillMaker be used to create a pour-over will?

WillMaker allows you to create a pour-over will. To do this, you will list your trust as a beneficiary in your will, using the trustee’s name and the name of the trust. “John Doe as trustee of the John Doe Living Trust, dated January 1, 20xx,” for example.

Keep in mind that the property you leave in your will may be subject to probate after you die. Because living trusts are intended to avoid probate, leaving too much property in your will may frustrate your own aims. Before making a pour-over will, make sure you understand how much property you may leave via your will without beginning probate procedures in your state.

Is there a common catastrophe provision in WillMaker’s will?

A language that addresses what happens if both spouses die at the same time is known as a “common catastrophe” clause. WillMaker’s will does not include a standard disaster clause. Rather, it allows for such a situation via the use of two popular tools: alternative beneficiaries and a 45-day survivorship condition. According to WillMaker’s will, if your recipient does not survive you by 45 days, the gift is given to your alternative beneficiary.

Is the WillMaker’s will divided “per stirpes” or “per capita”?

“Per stirpes” and “per capita” are legal phrases that describe how children inherit property in lieu of a dead parent; for example, one of these concepts would control how a granddaughter inherits property given to her mother in a will if her mother died before the will-maker. It is not required to include these clauses in your will. In reality, it is preferable to avoid them since they might be taken in a variety of ways. Instead, your WillMaker will allow you to choose who you wish to inherit your property, who will take over if your first choice beneficiary dies, and the percentages that they will get.

Is a list of my property included in WillMaker’s will?

No, your WillMaker will does not include a list of your property since it transfers the majority of your property as your “entire estate” or as your “residuary” estate. That is, it transfers all or most of your property to one or more others without requiring particular pieces of property to be named. You may even leave particular things to individual people using the service.

So, with the WillMaker will, you do two things: 1) you leave the majority of your wealth to one or more persons, and 2) if you choose, you identify beneficiaries for particular objects that aren’t part of the bulk bequest. Because most individuals desire to leave practically everything to a spouse, a group of children, or other close friends or family members, this is a frequent and effective method to leave property.

However, you might specify each item of property as a distinct bequest. However, doing so would be time-consuming, allow a lot of chance for mistake, and need frequent updates to your will as your assets changed. Even if you try to specify every item in your estate, you will still need to choose a residuary beneficiary to get “everything else.” There’s no need to specify your principal beneficiary for each piece of property when you can just state “and everything else goes to Jim.”

Following your death, your executor must furnish the court with a list of the property you possessed at the time of your death. That will be time-consuming job, but it should not be too difficult. If you wish to assist your executor with this process, you may provide a separate letter with some ideas or lists for inventorying your property.

Can I use WillMaker to specify what happens to my frozen embryos, sperm, or eggs?

No, if you have stored frozen embryos, eggs, or sperm, do not use your WillMaker will to decide what will happen to them after you die.

Keep in mind that you may have already determined this (knowingly or unknowingly) since contracts with reproductive clinics and storage facilities sometimes contain provisions concerning what happens to embryos and other genetic material if the parents or donors die.

However, if you don’t have a plan and wish to create one, consult with an attorney. The legislation governing who has the legal right to possess, transfer, utilize, or destroy embryos and genetic materials is new, evolving, and state-specific. You’ll need to hire a lawyer who is up to date on the law in your state. However, if you don’t have a plan and wish to create one, consult with an attorney.

What should I advise my executor about selling my property and dividing the proceeds?

You may leave your property to anyone you choose using the WillMaker will, but you cannot use your will to provide explicit instructions for your executor about how and when to sell your property.

Instead, leave these instructions in the Letter to Survivor. Here’s an illustration:

Nancy want to leave her home to her adult children. But, since they each have their own homes, she knows they will not want to reside in the house when she dies; instead, they will sell it and share the money. She leaves her home (and everything else) to be shared evenly among her three children using WillMaker. Then she prepares a Letter to Survivors in which she requests that her executor sell the home and split the money among her children. She might provide any further information or comments in the letter. For example, if the market is weak, she can propose that they wait to sell the home until they can receive a fair price for it.

This will work for any executor instructions, but be cautious not to contradict any sections of your will. Don’t, for example, use your will to gift your sister your automobile and then ask her to give it to your nephew in the letter.

Also, where there are no problems or rifts among the beneficiaries, this strategy of listing the gifts in the will but leaving explanations and instructions in a letter works well. If you believe that any of your friends or loved ones may have worries about how you will leave your property, see a lawyer for assistance in preparing a will that will address these issues.

I have real estate in another nation. Can I use WillMaker to leave the property to my children?

No, you should not use the WillMaker will to pass on property in another nation. Instead, hire an attorney to assist you with your estate planning. The laws of the other nation may effect how the property goes to recipients, as well as the willmaker taxes levied on your inheritance.

Choose a lawyer who has dealt with foreign property before since they will need to comprehend or study the laws of the other country, as well as any international laws that may apply. If required, your attorney may collaborate with an attorney in that nation to verify that local laws are followed.

To be clear, you may use WillMaker to designate beneficiaries for property in any U.S. state, but you will need the assistance of an attorney if you own property in another nation (or any of the U.S. territories).