Last Will and Testament
Often referred to simply as a Will, a last will and testament has three primary goals. One, it lays out your wishes for how you want to distribute your property after your death. Two, in your will you will also appoint your executor—the person who manages your estate assets and debts, and distributes the remainder when the probate process is completed. Three, the will is the document in which you will name a guardian for your minor children.
A Will can help prevent disputes and ensure that your loved ones are cared for according to your preferences. Without a Will, the state law of intestacy (dying without a Will) dictates how your assets are distributed, which may not align with your desires. In other words, if you don’t plan your estate, the state will plan it for you.
To be considered valid, there are strict rules about what the documents contain and how they are executed. We take several, reasonable precautions to ensure that your documents will not be contested, and will be upheld by a Court if they are challenged.
A Last Will and Testament has some benefits over a trust. It is a simple, straightforward document and a solid foundation for many estate plans. A Will allows you to leave specific items to certain individuals, and it is relatively easy to update when needed.
The primary disadvantage of a Will compared to a trust is that assets held solely in your name will still need to go through probate. Probate is the legal process where the court oversees the distribution of the estate. Probate in New Hampshire can be lengthy, confusing, and expensive.
Frequently Asked Questions
- What is a Will and why do I need one?
- A Will is a legal document that outlines how your assets and property will be distributed after your death. Having a valid Will ensures that your wishes are honored, minimizes family disputes, and can help avoid lengthy probate court proceedings. Without a Will, your estate will be divided according to state intestacy laws—which may not reflect your true intentions.
- What happens if I die without a Will?
- If you die without a Will—also known as dying intestate—your estate will be handled according to New Hampshire’s intestacy laws. This means the court will decide how to distribute your assets, which can lead to unintended consequences for your family and loved ones.
- How often should I update my Will?
- You should review and update your Will after major life events, such as marriage, divorce, the birth of a child, or significant changes in your financial situation. It’s a good practice to review your Will every 3–5 years to ensure it still reflects your current wishes and legal standards.
- Can I write my own Will, or should I hire a lawyer?
- It may sound self-serving, but we strongly recommend that you do not write your own Will. Many online templates are not specific to New Hampshire law and cannot take your family’s unique dynamics into account. Even when they appear valid, improperly executed Wills may be declared invalid. Working with an experienced estate planning attorney ensures your Will is legally sound and tailored to your needs.
- What’s the difference between a Will and a Living Will?
- A Will directs how your assets are distributed after death, while a Living Will (advance healthcare directive) specifies your medical care preferences if you’re unable to communicate. Both are essential components of a complete estate plan.
- Does a Will have to be notarized in New Hampshire?
- No, a Will does not need to be notarized to be valid in New Hampshire. However, adding a notarized self-proving affidavit can simplify the probate process by avoiding the need for witness testimony in court.
- What are the advantages and disadvantages of a Will?
- Advantages: A Will is straightforward, less expensive to create than a trust, and easier to revise as needed. It allows you to name guardians for minor children and leave specific gifts.
Disadvantages: A Will requires probate, which can be time-consuming and expensive. If you own property in multiple states, each may require separate probate. Wills also become public record, do not protect against creditors, and only apply to individually owned assets—not those with beneficiary designations like life insurance.
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