 Types of Wills in Virginia
Types of Wills & Trusts in Virginia1. Simple Wills - Simple wills are one of the most popular estate planning instruments because they are easy to understand and execute. And while it is possible to write your own simple will, you should consult an experienced and qualified estate lawyer to make sure your wishes are carried out after death. A few things you should know about simple wills include:
2. Living Wills - Living wills provide for individuals to decide to die naturally when suffering from a terminal condition. Living wills prevent procedures that prolong the dying process and allow only the administration of drugs to provide comfort care. They differ from a Medical Power of Attorney in that you are not assigning someone else to make your health care and medical decisions. Medical privacy restrictions may be lifted in a General Power of Attorney. An Advanced Medical Directive allows you to make decisions in advance on what type of medical care you wish in the event that are no longer able to make those decisions. 3. Handwritten Wills - Handwritten wills are pretty much exactly what they sound like. Rather than being typed, handwritten wills are documents that are completely and entirely in your handwriting. Though a few states don’t permit it, handwritten wills are indeed valid in Virginia. Commonly referred to as “holographic” wills, handwritten wills often occur out of emergencies when one doesn’t have the time to formally go through the estate planning process with a lawyer. For a holographic will to be valid in Virginia, at least two non-interested witnesses must prove that it is authentic. 4. "Pour-Over" Wills - A Virginia pour-over will works with a living trust. A living trust holds your property until your death and transfers these assets to designated beneficiaries. For this reason, a Virginia Pour-Over Will essentially gives you the option of placing your property into that said living trust once you pass away instead. This type of will often takes place if you leave out anything when you originally conduct your will. 5. "Ethical" Wills - An Ethical Will is different from a standard will because it has nothing to with property distribution. Instead, it involves one detailing their core beliefs and values and passing it down to those closest to them. For example, if you believe you will pass away before your grandchildren are alive, you can write to them through this effective method. Ethical Virginia Wills occur in various communities and are essential to some family traditions. 6. Oral Wills - An Oral Will, also known as a nuncupative will, is conveyed orally, usually during a time of durresss. While few resort to this option, this type of will is used in extreme situations that warrant such an action. It’s important to note that only a few states accept this form. In Virginia, one can only have an oral will if they’re a soldier in service dying on their deathbed. 7. Joint Wills - A Joint Will features two people, most times a couple in a marriage or two business partners. In the document, the two testators agree to give their property to whomever dies first. The document also gives instructions on how to distribute estate properties when the remaining testator passes away. Another aspect of a Virginia Joint Will is that it prohibits the surviving testator from changing the original agreement. While joint wills do exist, they are generally discouraged in practice. Editor’s Note: Joint wills are generally no longer accepted in Virginia. This means that you should rewrite your joint will into two separate wills if you move to Virginia from another state. 8. Attested Written Wills - An Attested Written Will is by far the most common type of Will. An Attested Written Will is typed and printed, then signed by the Testator and two Witnesses. Witnesses must either see firsthand the Testator signing the document or hear the Declaration of the Will. 9. Virginia Last Will and Testament - A Virginia Last Will and Testament is important if you wish to have control over the distribution of real and personal property upon your death. Virginia Wills give the person writing the Will, called the Testator, the opportunity to provide for a Spouse, Children, other loved ones, and Pets after death. You can also make a Charitable Contribution via your Virginia Will. Although a last will and testament are not legally required, without a will, the laws of intestacy will determine the distribution of an estate's assets. The outcome under intestacy rules may not coincide with the decedent's wishes, however, which means it is generally advisable to create a last will and testament. Having a last will and testament can be beneficial for many reasons, including the fact that it allows the testator to choose the executor of her estate, the person who will be responsible for carrying out the wishes contained in the will. If you do not choose an executor of your estate in a will, a court will do so for you. A will can serve various purposes, most notably by providing a way for the testator to detail how assets such as real estate, personal possessions, and bank accounts, should be divided upon her death. In general, Virginia law permits you to dispose of your property as you see fit, with some exceptions as described more fully below. Moreover, a Virginia will allows you to name someone as the legal guardian of your children and/or handle property left to minor children.
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