In the world of legal documents and wills, a holographic will is one of the simpler instruments to understand. Holographic wills are simply handwritten wills that don’t require a witness and may be particularly useful if you don’t want to go through the process of having witnesses present for your will.
Holographic wills are not valid in all states, so it’s important to know the laws in your state before attempting to create such a document. Generally, holographic wills may be valid if they are written and executed in accordance with the laws of the state in which you are domiciled.
Advantages of Holographic Wills
The primary advantage of a holographic will is the low cost associated with them. You don’t have to pay for a lawyer or witnesses and they are far less likely to be litigated, since they often omit specific details or may be written in an unprofessional manner. This makes them ideal for those looking for a fast and easy way of outlining their wishes for their estate.
Disadvantages of Holographic Wills
The main disadvantage of a holographic will is that it may not be legally valid. You can’t be sure that a court will accept your holographic will, and if you have even a single asset that requires probate, a holographic will likely won’t stand up in court. In some instances, a court may be able to interpret a holographic will, but if any details in the will are unclear, the court may refuse to honor the will.
A Final Note on Holographic Wills
Ultimately, a holographic will is a simple, cheap, and relatively fast way to set out your wishes for your estate, but it may not be legally valid. If you need to create a will, we recommend consulting with a lawyer or qualified estate planner to ensure that all of your wishes are legally enforceable.