What is a simple will?

| Jul 3, 2020 | Estate Planning

If the idea of crafting a will seems extremely daunting, you are not alone. Many people hesitate to start the estate planning process, because it seems like it will be a big, complicated affair. However, this is not necessarily the case, and in certain circumstances having as simple of a will as possible is beneficial.

In certain applications, you can make use of something that is literally called a “simple will.” According to FindLaw, a simple will is perfect for those who are under the age of 50 and do not have a large estate to plan for.

What can a simple will cover?

Simple wills are perfect for those who want to ensure that they take care of their estates and children in the event they die. If you possess an estate that the government will not subject to estate taxes, then a simple will is all you need to ensure that if you die, an executor will handle your estate as you would like.

Simple wills are great for people who have recently had children. A simple will can easily provide for the children without much fuss.

Do simple wills go through probate?

Almost certainly yes. Nearly every will, no matter how simple, will go through some variety of probate process. It is important that when you create your simple will you name an executor for this purpose. However, simple wills are best for those who do not expect to die in the near future. A simple will is a precaution.

Simple wills tend to cover unexpected circumstances. In the event that your estate grows and becomes more complex, it is easy to go back and amend a simple will to suit your new circumstances.