Precautionary Provision:
Will
Important aspects of will preparation and estate planning
A will is created by the testator alone as a single will or – in the case of spouses – jointly as a joint will.
Although it is legally possible to create a will entirely by handwriting it, in most cases, notarization is strongly recommended. Handwritten wills often contain ambiguities or inaccurate wording that can cause disputes and subsequent costs after the inheritance.
Furthermore, those drafting joint wills often fail to consider that they can often no longer be amended after the death of the first to die without a corresponding amendment clause. Changes in life and family circumstances can then no longer be addressed appropriately. In addition to the will, other precautionary measures, such as powers of attorney, agreements regarding statutory shares, and a multitude of other aspects, must also be considered.
Overall, this topic is therefore legally extremely difficult and complex, so expert advice should generally be sought. After all, it’s about all the assets available.
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