Knowing about the different kinds of clauses that are in your will is an important part of understanding the estate plan that you’re trying to put together. After all, if you don’t know what the will is saying, how can you know for certain what you’re doing with your estate? With that in mind, take a moment to look over some of the various types of clauses contained in a will.
Declaration and Revocation
These clauses work in tandem of to let the reader now that you have unequivocally made it so that the document they are holding in their hands is, without a shadow of a doubt, what you intended as your last will and testament. For example, “I, William Jones, declare this to be my last will and testament. All wills and codicils that I have previously prepared are hereby revoked.”
The clause is where you designate someone to serve as guardian to your children if you are unable to do so yourself, due to death or incapacitation. A guardian is kind of like a replacement parent, so don’t make this decision lightly.
This clause is used as a catch-all for any of the assets that you do not specifically give to someone elsewhere within the will. It will designate the person or entity to which this residual property will pass.
Signatures, Witnesses and the Self-Proving Affidavit
A self-proving affidavit is a unique statement that the witnesses sign to indicate that the proper procedures were followed, and that you knew what was going on when you signed, and you signed willingly.
Byrd : Garrett, PLLC is a member of the American Academy of Estate Planning Attorneys.