Benefits

• A validly executed will gives a person control over what happens to her property after their death. A valid will can significantly decrease court costs that may result from court cases in which family members argue over the property.
  
  

Detriments

• The cost of creating a will varies depending on its size and complexity.
  
  

Types

• Holographic wills are handwritten by the testator. Pour-over wills give money to an already existing trust. Simple wills contain simple property devices.
  
  

Requirements

• According to Roger W. Anderson, author of "Understanding Trusts and Estates," for a will to be valid, it must be intentionally created by a person 18 or older who has the required mental capacity, and it must be executed according to state laws.
  
  

Warning

• The information provided in this article is not legal advice or representation. Laws in each state are different. Contact an attorney in your state for guidance regarding your state's laws.