Frequently Asked Questions Regarding
Wills
Top
- How old does a person have to be to make out
a will?
- Must the will be in writing?
- Who must sign the will?
- Can a will be changed?
- 1. How old does a
person have to be to make out a will?
- The person must be 18 years old and be of sound mind and
memory.
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- 2. Must the
will be in writing?
- Yes.
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- 3. Who must sign
the will?
- The will must be signed by the maker and must be witnessed
by two witnesses in Illinois. Witnesses should not be the beneficiaries.
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- 4. Can a will
be changed?
- It may be revoked or changed at any time before the death
of the maker. Changes are usually made by an addition called a "codicil".
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OTHER IMPORTANT CONSIDERATIONS:
- Who should receive your property; if children, at what age?
- Who should be named as guardians of minor children, and
what are their duties?
- Should a trust be created for your spouse, children, or
others? If a trust is created, you must name a competent individual or trust
company to manage the trust.
- Should charitable gifts be made?
- Should life insurance proceeds be payable to a trustee or
executor named in your Will or to individuals directly?
- Who should be names executor?
- Can taxes be saved?
- Has your marital status changed since you made your last
Will?
- Have any beneficiaries of your estate died or have you had
important changes in circumstances or assets?