Types of Wills

admin — Sun, 12 Jul 2009 16:02:18 +0000

The only type of will recommended for estate planning is a formally executed will drawn by a lawyer. The law recognizes other types of wills, but these other types are best used only in emergency situations. A nuncupative will is an oral will which can be made only by a person in military service and in fear of death connected therewith. The estate must not exceed $1,000 and cannot include real estate. The will must be proved by two witnesses. A holographic will is one that is entirely written, dated, and signed by the hand of the testator himself. It need not be witnessed. This type is not recommended for use under normal circumstances, because it is usually drawn without the counsel and assistance of a lawyer.
• Formally Executed Will. Every will, other than the two types described in the endnote, must be executed and attested as follows:
1. The will must be signed at the end by the testator himself, or he may direct someone in his presence to sign his name thereto. (Usually this would happen only if the testator is physically unable to sign).
2. The signing must be in the presence of at least two witnesses.
3. The testator must at the time of signing the will advise the witnesses that the instrument is his will.
4. The two witnesses at the testator’s request and in his presence must affix their signatures and should write their addresses in their own handwriting at the bottom of the will.
• Self-Proved Will9. Oklahoma law now permits testators to make their wills self-proving. Influenced by Texas procedure, Oklahoma has adopted the practice of allowing the execution by a testator and the attestations by the witnesses to be acknowledged. This will excuse testimony by the witnesses at the time the will is offered in probate unless the will is contested. In absence of contest, this feature will save time and costs in the probate proceeding.
• Mutual or Joint Will. A formally executed will that is executed jointly by two persons with reciprocal provisions is called a joint will. It may be revoked by either of the testators in like manner as any other will and may be executed as a self-proved will. If two separate wills are executed with reciprocal provisions, they are called mutual wills. In either case, wills that contain reciprocal provisions should generally state whether or not they were executed pursuant to any agreement. Wills executed pursuant to an agreement (contractual wills) should generally be avoided since the potential for litigation is high in such cases.

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Types of Wills