Wills are not only for the rich and famous. There are practical reasons for writing out a will even if you will not be leaving behind a fortune to your heirs. And who are these heirs?

The primary compulsory heirs are your legitimate children and descendants. The concurrent compulsory heirs are your spouse and illegitimate children. Your secondary compulsory heirs are your legitimate parents and ascendants.

Going back to wills, a last will and testament is meant to ensure that the wishes of the estate owner are fulfilled.

But what is an estate? As defined in our book, “Pwede Na! The Complete Pinoy Guide to Retirement and Estate Planning,” an estate is the total property owned by an individual before the distribution of that property under the terms of a will, trust, or inheritance laws. 

The estate consists of all assets and liabilities of a person, which technically covers all the properties, rights, and obligations of a person, which are not extinguished by his death and are available for distribution to his heirs. This “passing on” of the properties, rights and obligations of a person is called succession and is done mainly through three modes, namely: 1) testamentary or through a will; 2) by operation of law or intestate (without a will); or 3) a combination of the two.

But what is an estate? It is the total property owned by an individual before the distribution of that property under the terms of a will, trust, or inheritance laws. 

The last will and testament helps resolve most but not all of the potential and existing quarrels among the heirs of a decedent. In addition, a person is given a free hand in distributing a portion of his estate to whomever he wants, provided the rights of the compulsory heirs are not impaired and provided that the distribution is allowed by law. Under the law, a person cannot donate or leave inheritance to another person with whom the former has an illicit relationship.

A person who is at least 18 years of age and of sound mind can already write a will. The witnesses to a will must also be at least 18 years of age. The same witnesses must not be blind, deaf, or dumb. Finally, the witnesses must be able to read and write.

Quoting from our earlier mentioned book, the formalities of a notarial will are that it must be:

1. in writing;
2. in a language or dialect known to the testator;
3. subscribed at the end of the testator himself or by the testator’s name written by some other person in his presence or by his express direction; and
4. attested and subscribed by three or more credible witnesses in the presence of the testator and of another.

The testator or the person requested by the testator to write his name and the instrumental witnesses of the will shall also sign each and every page, except the last, on the left margin. All the pages of the will must be numbered sequentially in letters placed on the upper part of each page. The will must contain an attestation clause and must be acknowledged before a notary public by the testator and the witnesses.

The formalities for a holographic will are that the will must be entirely written, dated, and signed by the testator himself.

There is more to wills than meets the eye. That is why it would be best to consult estate planning experts. But the point is clear, where there’s a will, that’s the way to help perpetuate your wish of harmony among your heirs.