What is a Holographic Will?

Every adult should have a will and testament describing where assets should be directed upon his or her demise. This process can be very expensive and involved or can be free and fairly simple if you write your own holographic will.
A holographic will is handwritten by a testator--the person whose will it is. No witnesses need to be present when these types of wills are written and signed by testators. Holographic wills are the cheap and uncomplicated alternative to hiring a lawyer and having official documents notarized. However, holographic wills are not valid in every state so be sure to double check the law where you live.

If holographic wills are legally accepted in your state, the three specifications that must be met are as follows. (1) The will must be verifiably created by the testator. Having the will written in the testator’s own hand is generally evidence enough. (2) Intellectual capacity of the testator to write a will must be possessed. This is assumed unless proven otherwise. (3) The content of the document must contain instructions on how to allocate a testator’s estate. The will, indeed, needs to be an actual will.

(Legal Disclaimer: This article is for informational purposes only and in no way should replace the contacting of a lawyer for definitive legal advice. I am not a legal representative and take no responsibility in the efficacy of decisions made based on the information contained in this article.)