Estate Planning Mistakes - Number Eleven

If the Will is not properly executed, it will be invalid. In Pennsylvania, the Will is valid if in writing and signed at the end. Witnesses are NOT required unless the signature is an X. These are the minimal legal requirements. But, you want to go further.

The drafter of your Will, ie. your attorney, should be present at the execution to make sure all goes well. It is also very wise to have witnesses (2) and a notary. With all of these formalities, your Will can with stand challenges applicable to improper execution.

Contact us at http://www.ythlaw.com/ for expert Probate, Estate Planning, Elder Law and Business Succession Planning advice.

Witnesses to a Will

A question was posed to me regarding Michael Jackson's will. Apparently the named executors signed as witnesses to Michael Jackson's will. The copy of the will that I was able to obtain had the witnesses name and address covered up so I was unable to confirm who signed. Let's assume that the executors did sign as witnesses. Is that permissible? If not, would that invalidate the will?

Under Pennsylvania law, any competent individual can be a witness; the interest of such a witness does not disqualify, but does AFFECT CREDIBILITY. For that reason, if an individual has a BENEFICIARY interest in the will, the general practice is not to allow such individual to sign as a witness. A BENEFICIAY is someone who will receive an advantage/benefit under the will. Receiving any of the assets is clearly as advantage. Serving as the Executor, is that an advantage? Even if it is, it would not invalidate the will, at least not in Pennsylvania. We will see, in time, what the California law provides.

In any event, having the executors sign as witnesses does raise a question regarding the credibility of the executors to affirm that the person signing was of sound mind and not acting under duress or undue influence. Will this become an issue? Will the executors be able to establish credibility? Thanks for raising the question and let watch how this might play out.

Your comments are welcomed and encourage. Contact us at www.ythlaw.com

Should my Will be notarized?

This is a question many people ask because they do not understand the importance of having a Will notarized when it is not a legal requirement. In Pennsylvania, you only have to sign your Will at the end of the document. Witnesses are not required and the Will does not have to be notarized. BUT, both, having your Will witnessed and notarized, are important.

It is important to have witnesses because they help to establish whose Will it is. They can state whether the person was under duress or of sound mind at the time of signing

Notarizing the document makes the Will self-proving. This means that if there is ever a question regarding the Will, the witnesses do not have to be located. The fact that it was notarized validates that the Will was appropriately witnessed.

So, do not take short cuts when embarking upon such an important task. Share your comments or contact our office at http://www.ythlaw.com/
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Let it Snow, let it Snow, let it Snow

Outside the snow is falling and friends are calling!! I love watching the snow fall on the already white color landscape and admiring the trees brushed with still just a dusting of snow on their branches. My daughter and her friends are already out in the winter wonderland while I take in the warmth of the fireplace with my laptop companion. It's a SNOW DAY!!! What are you going to do with yours? Of course, I want to encourage you to start getting somethings checked off of your list so that you are closer to getting to what matters most. It is on your list but may not be done yet!! It is your WILL. It either needs to be done or to be updated. No time like the present to jot down your ideas. Write your thoughts and your feelings regarding your assets and those whom would serve as the recipients of those assets upon your demise. Create a picture of your life with words. Let your estate planning attorney deal with the legal wording.

People ask what are the legal requirements of a will anyway. In Pennsylvania your will can be handwritten. You have to sign your will at the end of the writing. If you are over 18 and of sound mind, you have a valid will. No need for witnesses or notary. Now that being said, though they may not be legally required, they are highly recommended and of course I never do a will without them. Why, you ask? Because, I say. My daughter would then respond, because Why??

Well, let me just share this story. Remember when billionaire recluse Howard Hughes died, from accounts of that time, it appeared that he had not left a will. Attorneys and executives of Hughes's corporations began an intensive search to find a will, while speculation grew that Hughes might have left a handwritten will. The problem a handwritten creates is the element of proof. Since there were no witnesses and no notary, numerous "forged" wills were presented as Howard Hughes' will. Do not leave your final affairs to that level of speculation and potential misdeeds. A couple of witnesses and a notary seal are not that much to ask to make sure your billions get into the right hands!!!

Check out my upcoming book, Stop! What are you waiting for? Your Essential Guide to Estate Planning.