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ESTATES AND PROTECTED INDIVIDUALS CODE (EXCERPT) Act 386 of 1998 700.2519 Statutory will. Sec. 2519. (1) A will executed in the form prescribed by subsection (2) and otherwise in compliance with the

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How to fill out a statutory will:

01

Identify and gather all relevant personal and financial information, including assets, debts, and beneficiaries.

02

Determine the specific provisions you want to include in your will, such as appointing an executor, distribution of assets, and guardianship of minors.

03

Consult with an attorney experienced in estate planning to ensure your statutory will complies with the specific legal requirements in your jurisdiction.

04

Draft the statutory will, clearly stating your intentions and desires. Include all necessary legal formalities, such as signing the document in the presence of witnesses.

05

Review the will periodically and update it when necessary, especially if there are significant changes in your personal or financial circumstances.

Who needs a statutory will?

01

Any individual who wants to have control over the distribution of their assets after death.

02

Individuals with dependents, especially minors, who need to appoint a guardian to ensure their well-being.

03

Individuals with significant assets or complex financial situations that require specific instructions for their distribution.

04

Individuals who want to minimize the potential for disputes or challenges to their estate.

Overall, anyone who wants to ensure that their final wishes are legally binding and clear should consider preparing a statutory will.

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What is statutory will?

A statutory will is a legal document that allows a person to outline their wishes regarding the distribution of their assets and the appointment of guardians for any minor children upon their death. It is provided under the applicable statute of a particular jurisdiction.

Who is required to file statutory will?

Any individual who wants to create a legally enforceable will can choose to file a statutory will. However, specific requirements may vary depending on the jurisdiction where the will is being filed.

How to fill out statutory will?

To fill out a statutory will, you will need to follow the guidelines provided by the statute of the jurisdiction where you are filing the will. Generally, you will need to provide information about your assets, beneficiaries, and guardianship preferences, if applicable. It is advisable to consult an attorney or use online resources specific to your jurisdiction for accurate guidance.

What is the purpose of statutory will?

The purpose of a statutory will is to ensure that an individual's wishes regarding the distribution of their assets and the care of their minor children are legally documented and enforced after their death. It provides a standardized format for creating a will that meets the legal requirements of the jurisdiction.

What information must be reported on statutory will?

The specific information required on a statutory will can vary depending on the jurisdiction. Generally, it may include details about the testator's assets, beneficiaries, alternative beneficiaries, appointed executors, and guardianship preferences for minor children. It is essential to review the relevant statute or seek legal advice to ensure compliance with the requirements.

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