A Last Will and Testament is a document that a Testator creates that specifies how they would like their assets divided once they pass away. A Will is considered a legally enforceable document that can be upheld in court and with financial institutions, as long as the proper laws are followed in its creation. In Arkansas, the Last Will must be signed by two witnesses and notarized by a Notary Public to be legally enforceable.
Definition of Will - §28-1-102(20)
Laws - Title 28 - Wills, Estates, and Fiduciary Relationships
Witnesses - According to §28-25-102 the Will must be signed by two (2) witnesses.
Step 1 - Using your FormSwift Living Will Template, enter your name as well as your gender.
Step 2 - Specify your city and county of residence.
Step 3 - Specify your marital status from one of the following choices:
Also (unless you are single), state the name of your spouse.
Step 4 - State whether you have any children, pets, property, and life insurance.
Step 5 - Specify the names of your children, and whether or not they will be named as beneficiaries. In addition, specify the names of pets, and information about any life insurance.
Step 6 - State what percentage of your assets you’d like to leave your children or beneficiaries.
Step 7 - State whether you wish to set up a trust for someone who is disabled or mentally ill who requires special care. Setting up a trust can prevent interference with their ability to receive Supplemental Security Income and Medicare Benefits.
Step 8 - Specify the age that children must be in order to start receiving benefits from the trust, as well as the portion that will be received. Lastly, enter what age they will be when the benefits are terminated.
Step 9 - State the name of the funeral home you’d like your body taken to (if you already have one arranged).
Step 10 - If you already have the details of the meal after your funeral service, state those details here.
Step 11 - Naming an Executor - An Executor is a person charged with administering the Grantor’s estate once he or she passes away. This person can be a beneficiary in the Will or a trusted person such as an attorney or good friend. If an Executor is not named in a Will, the court will appoint one. If the Grantor has an appointed Executor, provide the following information.
Additionally, state whether or not the Grantor would like to appoint an alternate Executor. If so, state his or her name and your relationship with them.
Lastly, if there is someone the Grantor does not want to act as Executioner under any circumstances. If so, state their name, and relationship with the Testator.
Step 12 - Appointing a Trustee - If your assets are already in a trust, he or she must appoint a Trustee who will be responsible for distributing the assets out of the trust.
Step 13 - If you already have your assets set up in a trust:
If there is someone that you do not want to act as a Trustee over your assets, state their name and your relationship with them.
Step 14 - If you have digital assets such as images of value, logos, digital currency etc., state the name and relationship of the Digital Executioner.
Step 15 - State the name, and your relationship of the Guardian that you wish to appoint for your minor children.
Step 16 - Appointing Additional Beneficiaries - If there are other beneficiaries besides your children (if you have any) that you wish to include in your will, provide the following information below:
Step 17 - Disinheritance - If you’ve decided to disinherit a spouse or a child, provide the following information:
Step 18 - Witnesses - Provide the following information for both witnesses:
Remember to have both witnesses sign your Last Will and Testament, attesting that you are of sound mind when drafting this document. Additionally, be sure to have your Will notarized by a Notary Public so that it may legally be recognized by the state and other important institutions.