Drafting a Will in Rhode Island

Planning for the future can be difficult and filled with uncertainty. Will your spouse be able to handle additional financial responsibilities upon your passing? Will your children be able to enjoy the same lifestyle they do now? Are there other family members you would like to provide for? The experienced probate lawyers at Abilheira Law will help you work through these difficult questions while meeting all of your estate planning needs.Today’s blog provides a guideline for those considering drafting a will in Rhode Island.

WHAT IS A WILL?

A will is an instrument, executed with certain formalities, by which a person directs how his or her property will be distributed after his or her death.

WHAT ARE THE REQUIREMENTS FOR A VALID WILL?

In the State of Rhode Island, several requirements must be met in order for a will to be a valid instrument.

1.  The will must be in writing
2. The will must be signed by the testator (person making the will)
3. The will must be signed in the presence of two (2) witnesses

**The witnesses must attest and subscribe the will in the presence of the testator.

4. The testator must be eighteen (18) years old or older
5. The testator must be of sound mind.

DO I NEED A WILL?

As attorneys, we recommend that everyone execute a valid will.  Having a will is the only way to guarantee that your wishes are carried out after your passing. Without a will, your property will pass by intestate succession.

WHEN SHOULD I EXECUTE A WILL?

Often, clients will ask us to prepare a will after a major life event (marriage, birth of a child, divorce, or retirement).  However, there is never a bad time to execute a will.

WHY SHOULD I EXECUTE A WILL?

•  To ensure that your property will go to who you want, in the way you want, when you want.
• To avoid disputes amongst your surviving family members.
• To allow loved ones time to mourn your loss without making financial decisions.

WHAT CAN A WILL DO FOR ME?

1. A will can bequest personal property.

Often times, a testator will have in mind certain personal property that they wish to give to a friend or relative.  These are usually items with sentimental value.

These personal items can include:

• Jewelry
• Motor vehicles
• Antiques
• Collectibles

2. A will can bequest a sum of money to an individual or individuals.

3. A will can devise real property.

Real property includes land and all attachments on such land:

• Homes
• Investment properties
• Commercial properties

4. A will can appoint a guardian for minor children.

5. A will can appoint an executor.

An executor is the designated person who will carry out the testator’s wishes denoted in the will.

6.  A will can set up a testamentary trust.

QUESTIONS TO CONSIDER BEFORE DRAFTING A WILL

•  Are there any specific items I want to give to particular individuals?

• Who will be the beneficiary or beneficiaries of the rest of my property? In what proportions? Who will be the contingent beneficiary?

• Who will serve as my executor? Who was serve as my executor if the first person I designate is unwilling or unable?

If you are interested in drafting a will, call the Rhode Island Probate Lawyers at Abilheira Law today.  Our attorneys will assess your estate planning needs in a free consultation.