I’ve been studying up on a will and here are a few things I’ve been learnng.
– Per Stirpes Property Disposal: If a will or trust specifies that an estate should be divided under a per stirpes directive it means that the will maker is specifying a certain hierarchy of division based on the relationships of individuals to the deceased. In a basic per stirpes division, property is doled out as follows:
– Per Capita Property Disposal: Per capita is a much simpler concept than per stirpes; this directive simply states that all members of a specific group will receive an equal share of the estate.
– You must expressly state that this document is your will
– List who inherits specific items;
– You must appoint an executor who will be in the execution of your will.
– Testamentary Trust Will A testamentary trust will sets up one or more trusts for the distribution of part or all of one’s estate at the time of death.
– A self-proving will, (or a self-proving affidavit attached to a will), must be notarized, and certifies that the witnesses and testator properly signed the will. This type of will makes it easy for the court to accept the document as the true will of the person who has died, serving as testimony, and avoids the delay and cost of locating witnesses at the time of probate.
– Living Will, A living will bears no relation to a conventional will and is not used to leave property at death. A living will is a document that allows you to state what type of medical treatment you do or do not wish to receive should you be too ill or injured to communicate your wishes. It may also be referred to as an advance directive or a declaration.

http://www.oprah.com/money/Estate-Planning-Advice-How-to-Make-a-Will-Suze-Orman-Advice
https://www.metlife.com/individual/life-advice/retirement-planning/making-a-will/index.html
http://law.freeadvice.com/estate_planning/wills/per-stirpes-per-capita.htm

Want to add to the list of things people should keep in mind? Please do so in the comment section of the blog.

Thanks