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Last Will and Testament Template - Delaware
A Delaware Last Will and Testament is an important tool for any individual who wants to control how their assets will be distributed after they pass away. When writing a will the individual - also referred to as the Testator - can leave important instructions regarding inheritance, guardianship over children and pets, charitable donations and the distribution of valuables and family heirlooms.
A Last Will, available for download below, is a must if the individual has specific beneficiaries in mind and does not want their property to go to the state, has no living relatives or has minor children that will need to be taken care of in the event of the Testator's death.
The Delaware Last Will is regulated by Title 12 (Decedents' Estates and Fiduciary Relations) . According to the Register of Wills, a Testator may register their will in their respective area at the following locations: Kent County, New Castle County, and Sussex County. Click this link to create your own form with our customizable template.
What Is a Last Will and Testament in Delaware?
A Last Will and Testament is a legal document through which an individual is permitted - within the formalities prescribed by law - to control the distribution of their assets and estate. There are three parties to any Last Will:
- A Testator - a person who dies leaving a will in force.
- An Executor - a person tasked with carrying out the Testator's wishes according to their will.
- A Beneficiary - a person, organization or community selected to receive the assets of the Testator.
How to Write a Will and Testament in Delaware?
Each state has its specific requirements that a Last Will and Testament template must meet to be legally acknowledged. A Testator is free to choose what to include in their will. The basic instructions for creating a will in Delaware are as follows:
- The Testator must make a list of the people that they would like to elect as beneficiaries.
- The Testator should then create an inventory of all assets (real estate, vehicles, bank accounts) and calculate their worth.
- The money and property must then be split between the selected beneficiaries.
- A portion of the assets that will go towards paying inheritance tax, mortgages and funeral costs should be calculated and included in the will.
In most cases, it is best practice to select an Executor - a person that carries out a Testator's wishes in accordance with the will. Any adult 18 years or older and that has never been convicted of a felony can be an Executor for a will.
Download Last Will and Testament Template - Delaware
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