Estate Planning Forms, Wills & Trusts

Pennyborn.com™

Estate Planning

Financial Decisions

Title to Property

Social Security Benefits

Domestic Partners

For Women

State Laws

Newsworthy Cases

Estate Plan Tips & FAQs

Glossary of Terms A-G

Glossary of Terms H-N

Glossary of Terms O-Z

Unequal Shares

Dying Without a Will

Wills & Trusts

Types of Wills

Living Trusts

Other Types of Trusts

Trust Law

Fatal Errors in Execution

Codicils/Amendments

Inheritances

Will & Trust Disputes

Disinheriting an Heir

Community Property

Change My Will

Specific Bequests

Making Specific Bequests

Medical Decisions

Living Wills

Health Care POA

Medical Decision Laws

Terminal Illness

Right to Die

DNR Orders

Advance Directives

Children

Guardianship

Single Parents

Blended Families

Special Needs Trusts

College Funds

Medicaid for Children

Gifts to Minors UTMA

Adopted Children

NonMarital Children

Dependent Adult Child

Child Guardian Letter

Lump Sum Inheritance

Estate Taxes

Gifts and Gifting

Charitable Giving

The Marital Deduction

Find a Tax Professional

Generation Skipping Tax

Inheritance Tax

Estate Tax Info

Pets

Pet Trusts

Pet Retirement Homes

The Law on Pet Trusts

Funding Pet Trusts

Letter to Pet Guardian

Pet Owners Estate Plan

Pet Trust Info

Memorial Preferences

Funerals & Services

Cremation

Burial Options

Funeral/Burial Expenses

Organ Donation

Disposition of Remains

Funeral PrePaying

Write an Epitaph

List of Epitaphs

Burial Assistance

Write Last Wishes Letter

Life Insurance

Types of Policies

Viatical Settlements

Insurance Companies

Life Insurance Trusts

On Adult Children

Financial Planning

IRA's & Your Estate Plan

401K's & Your Estate Plan

Annuities & Your Estate

Find a Financial Planner

Long-Term Care Insurance

LTC Policy Fine Print

Inherited IRA's

Charitable Gift Annuities

Small Business

Types of Entities

Shareholders Agreements

Business Succession Plans

Selling the Business

Need for Liquidity

Probate

Probate of Small Estates

Probate an Estate

Probate Questions

Probate Lawyer

Executor Bonds

Free Probate Guide

Estate Administration

For Executors

Executor Checklist

Executor Powers

Creditor Claims

Estate Property Form

Tax Returns Due

Safe Deposit Boxes

File Will of Deceased

Death Certificate

Issues facing Seniors

Tips for Seniors

Info for BabyBoomers

Long Term Care

Assisted Living

Medicaid Planning

Dementia & Wills

Funerals and Medicaid

Books & Software

Estate Planning Books

Software

Will & Trust Books

Books About Probate

Funeral Planning Books

Medicaid Planning Books

Books for Trustees

Living Will Books

IRA 401k & Annuity Books

Estate Tax Books

Long Term Care Books

Last Wishes Planners

Free Estate Planning

Free Estate Plan Forms

Last Wishes

Estate Plan Coversheet

Estate Planning Worksheet

Pet Guardian Form

Contesting a Will

Holographic Wills

Undue Influence

Proving Undue Influence

More About Trusts

QTIP Trusts

CharitableRemainderTrusts

PowerofAppointment Trusts

Spendthrift Trusts

Dynasty Trusts

Minor's Trust

Crummey Trusts

Irrevocable Trusts

Terminate a Trust

Guide to Living Trusts

Benefits of Living Trusts

Living Trust Checklist

Living Trust Property

Revoke Living Trust

Forms for Trustees

For Successor Trustees

Trust Administration

For Trustees

Trustee Checklist

Living Trust Accounting

Trust Accounting

Open Trust Account

Administer a Trust

How to End a Trust

Trust Law Sources

Spouses & Partners

Spousal Share

Partner's Share

Joint Wills

Required to File Will

Disinherit-a-Spouse

Title-Property-Disinherit

Legacy Planning

Unwanted Pets

Animal Charities

Non-Probate Transfers

Pay on Death Accounts

Transfer on Death

Funeral Planning Guide

Best Funeral Songs

Last Wishes Letter

How to Plan Your Funeral

Greedy Heirs

Adult Child's Inheritance

Protecting Parents From

Greedy Siblings

Estate Planning Questions

Safe Deposit Box

Leave Stock in Your Will

Questions-About-POAs

Why Leave Last Wishes

Heirs and Beneficiaries

Debts Owed to Deceased

 
What is a Statutory Will Form?
A statutory will form is a type of simple will adopted by a small number of states to provide a legal form of making a will simply by completing the form and properly executing it in accordance with state law requirements.

A statutory will form allows you to accomplish several important estate planning objectives, such as:

1. Name a guardian for minor children. See guardianship.

2. Name an executor to administer your estate and a custodian to manage any property inherited by a minor child.

3. Name the beneficiaries you want to inherit your assets rather than allowing them to pass to legal heirs under the laws of intestate succession. Under state laws, dying without a will often leads to your estate being distributed in a manner you would not expect.

See also types of wills and wills and trusts.



 
Advantages of Statutory Will Forms
Ideally, your last will and testament should be drafted by an attorney. However, practical realities often prevent people from using a professional estate planner. A small number of states offer statutory will forms to ensure all their citizens have access to basic estate planning documents regardless of income.

The advantages of using a statutory will form include:

1. Can be used if you have a very small, uncomplicated estate, with very few assets and simply want to name a beneficiary to inherit any property you may own when you pass.

2. Allows you to make a last will without paying a lawyer or paying the cost of estate planning software. Except for any costs associated with executing the will, using a statutory will form is typically free.

3. Can be used if you need to make a will immediately and do not have time to meet with an attorney.


Disadvantages of Statutory Will Forms
1. A statutory will form subjects your estate to probate, a process many people wish to avoid. If you are going to use a statutory will, you may want to learn about Non-Probate Transfers that can be set up by completing certain paperwork.

2. A statutory will form is not customized for your specific situation. By using a statutory will form instead of meeting with an attorney about your estate plan, you may miss out on many benefits of estate planning, such as reducing estate taxes, engaging in Medicaid planning for long term care, maximizing wealth creation for future generations, and reducing the potential for will contests or challenges. For example, if you would like to add a testamentary trust to your will to provide for a spouse, children or grandchildren, you will need to have your will drafted by an attorney that can add the necessary trust provisions.

3. Most statutory will forms prevent you from adding any language or making changes. Therefore, if you want to include specific language in your will, such as regarding disinheriting an heir or details regarding your last wishes, it may not be possible with a statutory will form.

4. When people use free estate planning forms to make critical legal documents such as a will, errors and mistakes are common. See fatal errors in execution. If you have an existing will or trust, or ever made a will or trust in the past, make sure you consult an attorney about how to properly revoke or change your existing estate planning documents. See codicils and amendments.


State Will Forms
To access statutory will forms and find out if your state has an approved statutory will form, go to state will forms.

If your state does not have a statutory will form, you may need other options. You can make your own last will and testament, as well as other basic estate planning documents, using estate planning software. This type of software typically provides will forms you can customize based on your estate planning preferences.

To ensure your will is valid and complies with applicable state law, have your will form reviewed by an attorney. For tips on how to find an affordable, qualified estate planning lawyer, go to finding an attorney.


Self-Proving Will Forms
Many states have adopted a statutory form of affidavit that may be used to make a self-proving will. To find these free forms for a particular state, go to Self-Proving Will Forms.



Estate Planning and Trust Administration Guide

Copyright © 2009 - 2019 Pennyborn.com. All articles, forms, and images on Pennyborn.com are copyrighted. PENNYBORN is a federal trademark. All Rights Reserved. Your use of this site constitutes acceptance of our Terms of Use and Privacy Policy.

INFORMATION ON THIS SITE, INCLUDING ARTICLES, ESTATE PLANNING FORMS, AND THE ESTATE PLANNING BLOG, IS NOT LEGAL ADVICE. Pennyborn.com is not a law firm and is not a substitute for a lawyer. Your use of this site does not create an attorney-client relationship.

THIS WEBSITE USES COOKIES. BY USING THIS SITE YOU ARE PROVIDING US WITH YOUR CONSENT TO THE PLACEMENT OF THESE COOKIES. PLEASE READ OUR PRIVACY POLICY WHICH CONTAINS MORE INFORMATION ON HOW WE USE COOKIES.