A simple will is a document that outlines how a person wants their assets distributed upon death, appoints guardians for minor children, and names an executor. It allows the testator to divide their property as they wish and designate who will care for their children.
A simple will is a document used to set out how a person wants his assets to be distributed upon his death. This document may also name the creator’s minor children, designate who will act as guardians for them after the creator’s death, and name a person who will manage and control the assets left to the minors until they become legal adults. This document also appoints an executor, who is a person responsible for ensuring the execution of the provisions of the will. Wills can be complex at times, but a simple will does the basic, no-nonsense job of naming heirs, distributing the estate, and appointing guardians and an executor.
In a simple will, a person names the family members, friends and others to whom he wishes to leave his property and indicates what property each person receives. For example, he may leave a property to his wife but designate his classic car collection for his brother. The testator can divide his property of him as he wishes. If minor children are involved, he can leave the property to them but also appoint an adult to supervise and manage the assets for the minors until they become adults. This may not be necessary if a person leaves a photo collection with a minor, but it is usually necessary when the person leaves bank accounts, stocks, and many other types of high-value property to minor children.
A person can also use a simple will to designate who will care for their minor children in the event of their death. For example, a person, in agreement with his or her spouse, may designate another relative to care for minor children if both parents die before reaching adulthood. If the maker of the will is divorced, however, your former spouse can take care of the children after your death. If the surviving parent is declared legally ineligible or is absent from the children’s lives, the creator of the will can appoint another party to assume guardianship of the children.
When a person makes a simple will, they also appoint an executor. An executor is a person charged with arranging the affairs of the creator after his death and ensuring that the creator’s wishes are carried out. This usually includes locating and managing the deceased’s assets through to their distribution, paying the deceased’s debts and taxes, and distributing the deceased’s assets as set out in his or her will. An executor must also determine whether the will needs to go through probate, which is a judicial process of determining whether a will is valid and distributing assets.
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