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The definition and benefits of a holographic will

On Behalf of | Feb 16, 2018 | Wills & Trusts

Regardless of a person’s age, financial status or obligation to dependents, the decision to organize and articulate a will is one of the best decisions that anyone can make. A person’s decision to invest in his or her future and create a meaningful plan for his or her heirs to follow in distributing property, assets and wealth is an excellent way to avoid tension following death. People in Michigan who are interested in finalizing a will may be faced with the task of deciding which method is going to work best for them. 

One type of will, a holographic will, is an interesting option for people to consider. According to Investopedia, a holographic will is one that is written by hand and signed by the testator with legal proof. In order for any holographic will to be recognized by the state, certain things are required including the following:

  • Proof that the person who wrote the will was mentally capable of doing so.
  • Proof that the signature on the will actually belongs to the person who wrote it.
  • Detailed instructions regarding how the person wishes for his or her property to be distributed following death.

Financial Web suggests that people may enjoy the benefits of writing a holographic will when it is done the correct way. Some of these benefits may include: 

  • The process is fairly straightforward to follow, and may require relatively little professional guidance.
  • There is no need for witnesses to be present at the time of signage.
  • Extended flexibility to include content that is descriptive of why a person chose to give certain property to the named heir.

People who wish to work on their own, without the interference of third parties, may find the idea of a holographic will to be especially appealing.