Article

What you should know about wills

Topic: InvestingPublished December 2, 2020

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Types of will: what it takes to do itrnSome very little used forms (military, maritime, and closed notarial will), there are two wills that can be made: the holograph and the open notarial. • The holographic testament: it is a testament that the testator makes by himself, writing it in his own handwriting, stating the year, month and day on which it is made. The lack of any of these requirements or the signature of the testator renders it void. This type of will presents a series of problems: on the one hand, the lack of technical advice makes the invalidity of these wills frequent and therefore the existence of unclaimed property. On the other hand, it tends to provoke discussions about the ability of the testator to do so. In addition, after the testator has died, the heirs have to follow a complex judicial procedure to verify the authenticity of the will and formalize it, which makes the whole process complicated and expensive for them.rnOn the other hand, it is easy for the will to be lost or for an unfavored relative to find and destroy it, making it almost impossible for the other heirs to prove that it existed so they go to an unclaimed property search. In any case, the holographic will can be useful in exceptional cases of urgency or risk situations. When making a holographic will, it must be remembered that it must be written in its entirety by the testator in his own hand, and signed by him, and must be dated (year, month and day). Words crossed out, amended or between lines must be saved by the testator under his signature. • The notarial open will: it is almost the only will that is made today due to its enormous advantages over others. It is a matter of stating the last will, in a public deed before a notary public, the testator being able to benefit from his advice and advice, and from the assurance that the clauses of the will be within the law. The notary informs and advises the testator on the various ways in which he can dispose of his assets and how to get what he wants. The possibilities offered by law are many and the notary will advise you on how to obtain them and may also inform you of the tax consequences, always within the strictest confidentiality. The intervention of the notary, as the expert who drafts the will, guarantees that all legal formalities are fulfilled and that the content of the will is adjusted to the law, especially that the legitimate ones referred to later are respected. In addition, the notary is in charge of the conservation of the will (since the original remains in his possession and what is delivered to the testator is only a copy) and it is achieved, through the General Register of last wills, that it is known which was the last testament upon the death of the testator, maintaining the most absolute guarantee of secrecy and confidentiality regarding the existence of the will and its content during the latter's life. What do you need?rnIt is enough to go to the notary with the National Identity Document (DNI) and explain how you want to leave the estate. Depending on the complexity of the will, the notary will ask you for deeds of your assets or more information. Based on these data, the notary will draw up the will in writing and proceed to its execution without, at present, requiring the intervention of more people, since the presence of witnesses is not necessary, except in certain cases. It is very simple, and it is not necessary to carry out an inventory of the assets you have. How much does it cost to make a will?rnThe testament is a very cheap document, taking into account its importance and, on occasions, its legal complication. Regardless of how much the testator's assets are worth, the will costs just over 36 euros. If it is longer than normal, you can raise the price slightly (it is very rare that it exceeds 60 euros) For more information please click on this link https://findmyfunds.com/.

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