For people making preparations for after they are gone, one such preparation is writing a last will and testament. This legal document explains in detail the wishes and instructions of individuals on how they want their properties and assets shared among their family members.
However, the recipients’ scope is not limited to family members or relatives alone. Individuals may also choose to bequeath their wealth to charitable organizations. This article discusses more about wills in nc, what should be contained in a nc will template and how to make a will in nc.
What Is a North Carolina Last Will And Testament & How Does It Work?
A last will and testament nc controls the disposition of a testator’s property to his or her designated beneficiaries, as well as provide guardianship for their minor children after the testator's death in the state of North Carolina. Unlike a power of attorney that terminates at the death of its principal, North Carolina wills become effective only after the death of the testator.
As long as the testator is of sound mind, he or she may later decide to draft a new will or make revisions to the old one. All a testator has to do is destroy the old one or add a “codicil” . All laws guiding the writing of a last will and testament nc and executing it are contained in Chapter 31: Wills of North Carolina Code.
What Should Be Covered In a North Carolina Last Will and Testament?
A North Carolina last will and testament should cover the following details:
- Name of testator, gender, city and county of residence
- Marital information
- List of beneficiaries including pets
- List of properties and the percentage in which they should be shared
- Details about life insurance
- Name of executor and alternative executor
- Name and contact information of guardian for minor children
- Name and contact information of Trustee
Other elements or section included in a North Carolina last will and testament are:
- Expenses and taxes
- Discretionary powers of personal representative
- Governing Law
- Binding Agreement
Benefits and Limitations of a North Carolina Last Will and Testament
In North Carolina, not filling a North Carolina will form is leaving your assets at the mercy of the state law. Without a will, the intestacy laws apply. The following are the benefits residents of North Carolina stand to gain from writing a last will and testament.
- Your properties and assets will be shared according to your wishes
- The intestacy laws no longer apply
- It can be used as an instrument for creating a testamentary trust for a child or pet.
A North Carolina last will cannot be used to:
- Reduce estate tax
- Avoid probate
- Life insurance proceeds
- Share joint tenancy properties with survivorship rights
How to Write a Last Will and Testament in North Carolina?
For a will to be valid and effective in North Carolina, the following requirements must be met:
- The testator must be at least 18 years old
- The testator must be of sound mind at the time of writing
- The document must be signed in the presence of at least two witnesses
- The will must be in writing
Though oral wills (nuncupative) are also permissible, the testators must declare the will to the witnesses at the same time and must be in the last stages of their illness.
In writing a last will, the testators must write their names, cities, counties of residence and indicate their marital information. They must then list their beneficiaries. For minor children, they must indicate what ages these children can start receiving the benefits from the will and at what age the benefits will end. The testators can also use the will to appoint a guardian over their minor children.
Finally, they must sign the will in the presence of at least two witnesses and have these witnesses sign as well. In North Carolina, notarization is not a requirement.
Start drafting your NC last will and testament today. You can download any of CocoSign easy-to-use templates to begin to secure your future and those of your beneficiaries.
CocoSign represents a wide collection of legal templates covering all types of leases, contracts and agreements for personal and commercial use. All legal templates available on CocoSign shall not be considered as attorney-client advice. Meanwhile, CocoSign shall not be responsible for the examination or evaluation of reviews, recommendations, services, etc. posted by parties other than CocoSign itself on its platform.