Types Of Wills Explained

Summary

There are several types of wills: Simple Wills, Testamentary Trust Wills, Joint Wills, Living Wills, and Holographic Wills. For married couples in New Jersey, Mirror Wills or Joint Wills are common choices. Mirror Wills allow each partner to leave everything to the other, while Joint Wills bind the surviving partner from changing their will. Consult an estate planning attorney for personalized advice.

Full Conversation

what types of will exist?
Hello ****, there are several types of wills:
- Simple Wills: Basic distribution of assets.
- Testamentary Trust Wills: Establishes a trust after death.
- Joint Wills: Created by two parties to leave assets to each other.
- Living Wills: Outlines healthcare wishes.
- Holographic Wills: Handwritten and signed by the person making the will.
Please note that laws may vary by location.
can you recommend lawyers that can assist me with creating a will?
I'm sorry for the confusion, but as an AI, I'm unable to recommend specific lawyers. However, I suggest researching local law firms or legal aid organizations that specialize in estate planning. They can assist you in creating a will.
what is the best will for a married couple in the New Jersey
In New Jersey, a common choice for married couples is a Mirror Will or Joint Will. They largely mirror each other's wishes:
- Mirror Will: Each partner leaves everything to the other.
- Joint Will: Similar to Mirror, but it also binds the surviving partner from changing their will.
Discuss with an estate planning attorney for personalized advice.