Monday, January 6, 2014

Holographic?

No, Holographic Wills are not holograms ... at least not yet!

Perhaps at some point in the technological future, we'll be able to video a hologram of ourselves detailing how we desire our property to be distributed upon death and the legal system will accept it.  Perhaps not!

Holographic is the legal term for a Will that is entirely handwritten and signed by the individual who is trying to plan for their death. Arkansas does recognize these as valid in § 28-25-104 of the Arkansas State Code.  

The problem with Holographic wills arrises in that they are exceptionally difficult to prove valid.  

For example, in my own family, a great uncle died years ago leaving only a holographic (handwritten) will detailing his wishes.  This instrument was challenged in court (LEGAL FEES!) (FILING FEES) (TIME) and eventually ruled as invalid.  As a result, my uncle's estate was divided according to the laws of intestacy.  

Now, I was quite young when this happened, so I hold no opinion on the validity of the holographic will in question, but presuming it WAS valid .... my uncle's wishes were not carried out.  Not only did his intended beneficiaries not receive their full inheritance, but the family members that did take through probate had to share the estate with their lawyer!  

Conclusion:  

If you're stuck in your basement/car/boat and a natural disaster/criminal/other prevents you from executing a will with witnesses and a notary and a Proof of Will at your local lawyers office .......
by all means write one up and sign it.  But know, your desired beneficiaries may very well have to overcome a hurdle or two to prove that you really did so!

Assuming you aren't facing imminent death in an extenuating circumstance, its probably worth the effort to go through the formalities of planning your estate with your local attorney.  

No comments:

Post a Comment