A will has many uses, including establishing guardians for children after a parent dies and naming beneficiaries to an estate. Wills are often the only document people draft when they begin estate planning. After all, a will can accomplish many of people’s primary estate planning goals. They can protect their loved ones and establish a specific legacy.
Testators thinking about their loved ones and their legacy need to draft documents that comply with state statutes. Otherwise, they are at risk of the courts invalidating the will and treating their estate as though they died intestate without documents in place.
Wills need to include certain language. They also need to have the signatures of two competent witnesses. Without witnesses, the courts may set a will aside instead of upholding the instructions contained in the document. Why are witness signatures a key component of a will?
To prevent fraud
The transfer of estate resources can lead to people inheriting hundreds of thousands of dollars in property or more. The value of an individual’s assets can be a powerful incentive for fraudulent behavior.
People might try to destroy a will and replace it with a document they drafted. The witnesses present at a will signing help affirm that the document is the original creation of the testator rather than a fraudulent document drafted by someone hoping to inherit from their estate.
To validate testamentary capacity
In theory, anyone over the age of 18 has the legal authority to draft a will. In practice, however, not everyone understands the implications of estate planning.
Individuals experiencing cognitive decline or dealing with medical issues like dementia may not have the requisite testamentary capacity to draft a valid estate plan. They might include terms in their documents without realizing the impact those terms could have on their family members.
Witnesses therefore play an important role by validating that the testator was of sound mind at the time that they established their estate planning documents. They can confirm that the testator understood the documents, could name their beneficiaries and recognized what property they possessed.
Complying with estate planning guidelines is important for those who want to choose who will control their resources after death. Drafting a will with the right language and appropriate witness signatures can help people distribute their property to specific beneficiaries after their passing.