What is the difference between a will and a deed of inheritance?

What is a Will?

A will is a legal document that outlines how a person's assets and property should be distributed after death. A will can also include instructions on who should be appointed as the executor of the estate, who should take care of any minor children, and any other instructions or wishes the person has for after their death.

Individuals typically create wills over the age of majority (18 or 19, depending on the state) and who are of sound mind. It is important to create a will to ensure that your assets and property are distributed according to your wishes rather than subject to the laws of intestacy (the laws that dictate how property is distributed when a person dies without a will).

What is a Deed of Inheritance?

A deed of inheritance is a legal document that transfers property ownership from one person to another, typically after the original owner's death. A deed of inheritance is used in cases where the property owner did not leave a will or where the will does not specifically address the transfer of the property in question.

To transfer ownership of a property through a deed of inheritance, the person who is inheriting the property must provide proof of their relationship to the deceased and obtain the necessary legal documents. An estate executor or probate attorney typically handles this process.

Differences between a Will and a Deed of Inheritance

There are several key differences between a will and a deed of inheritance:

  • Purpose: A will is used to outline how a person's assets and property should be distributed after their death. A deed of inheritance is used to transfer ownership of specific property from one person to another.
  • Creation: Wills are typically created by individuals over the age of majority who are of sound mind. In contrast, deeds of inheritance are created after a person's death to transfer ownership of specific property.
  • Legal Requirements: Wills must meet certain legal requirements to be considered valid, such as being signed by the person creating the will and being witnessed by at least two other people. Deeds of inheritance do not have the same legal requirements, but they must be properly executed and recorded to transfer ownership of the property.
  • Property Distribution: A will can be used to distribute all of a person's assets and property, while a deed of inheritance is only used to transfer ownership of specific property.
  • Role of the Executor: The executor of an estate is responsible for carrying out the instructions outlined in a will, while an estate executor or probate attorney typically handles a deed of inheritance.

Overall, it is important to have both a will and a deed of inheritance in place to ensure that your assets and property are distributed according to your wishes after your death. A will can help ensure that all your assets and property are properly distributed. At the same time, a deed of inheritance can be used to transfer ownership of the specific property to a specific person.

Estate Planning Attorney Free Consultation In Utah

If you need legal help, call this law firm and talk with our experienced attorneys about will and estate planning for a FREE consultation.

We help you with Estate Planning, Wills, Trusts, Power of Attorney, Health Care Directive, Estate Administration, Probate and More

Parklin Law - Estate Planning

5772 W 8030 S, # N206

West Jordan UT 84081

(801) 618-0699

https://parkin-law.business.site/

40.605070, -112.027530

Disclaimer: This is not legal advice and is simply an answer to a question and that if legal advice is sought to contact a licensed attorney in the appropriate jurisdiction.

Location: Bountiful, UT 84010, USA

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