Estate Planning Glossary

willn.

also known aslast will and testament, testamentary will
  1. A signed, witnessed document that says who gets a person's probate property after death and names an executor to carry it out. It takes effect only at death and only after probate.

  2. A will is a written instrument, signed and witnessed under state law, that directs how a person's probate estate is distributed at death and names a personal representative to administer it. A will can also nominate guardians for minor children.

    A will controls only property that passes through probate; it does not override beneficiary designations, jointly titled property, or assets held in trust. A will has no legal effect until the maker dies and the will is admitted to probate.

Colorado & Wyoming notes

Colorado follows the Colorado Probate Code (C.R.S. Title 15) and recognizes holographic (handwritten) wills if the material portions are in the maker's handwriting. Wyoming requires two witnesses and generally does not recognize holographic wills. Execution formalities differ between the two states.