When planning for the future, a will is crucial for outlining how your assets will be distributed. As experts in estates and personal planning, the team at Sidhu & Associates emphasize, that understanding the differences between notarial and standard wills is vital for ensuring that your wishes are honoured, while also reducing stress for loved ones during an emotionally taxing time.
Learn about the differences between trusts and wills.
Notarial Wills
A notarial will is created with the help of a notary public, who ensures the process is carried out according to legal standards. The testator, or person making the will, signs the document in front of the notary, who then verifies the testator’s identity, confirms they understand the contents of the will, and ensures they are signing voluntarily. The notary also attests to the authenticity of the document, which means it is legally considered well-executed and harder to contest. Because of this extra step, notarial wills provide a higher level of certainty, as they reduce the chance of legal challenges or disputes about the validity of the document in the future. The notary’s involvement ensures that the will complies with formal requirements, making it less likely to face complications during probate, and offering more protection to both the testator and beneficiaries.
Standard Wills
A standard will, on the other hand, can be written without the assistance of a notary and may be handwritten or typed by the testator. While it is a legally valid will if executed correctly, higher risks are associated with standard wills. For example, the testator may need to remember to follow all required formalities, such as having the document witnessed by the appropriate people, or they may sign the will under unclear circumstances. If the will lacks these essential components, it could be considered invalid or contested in court, leading to potential delays in the distribution of the estate. Standard wills provide more flexibility in how they can be created, making them an attractive option for those looking for a simple and cost-effective way to plan their estate; however, without the added security of notarization, there is a greater possibility that the will could be disputed or challenged, especially if there are concerns about the testator’s mental capacity or intentions at the time of signing.
If you have inquiries or issues related to wills, estates, or personal planning, feel free to reach out to Sidhu & Associates by filling out our online contact form. Our experienced team is ready to help and to provide additional information about what we offer.
