Although estimates vary, it's pretty safe to say that more than 50 percent of the people who could make and leave a will fail to do so.
In order to make a will, a person must intend to make a will. A person must have what is known as testamentary intent. The adjective 'testamentary' means related to a will, and is a derivative of the word 'testament'--the Latin word for will. The Latin phrase for testamentary intent is animus testandi, "the intention to make a testament."
You cannot contest a will simply because you don't like the provisions, or because you received less than you felt you should have received, or because the provisions were, in your opinion, unfair. You must have legal grounds, which, if supported by the evidence, would cause the will to be rejected by the Probate Court.
A trust has five main elements. First, a settlor transfers some or all of his or her property. Second, the property transferred by the settlor is designated trust property. Third, the trust property designated by the settlor is transferred with the settlor's intent that it be managed by another. Fourth, the trust property designated by the settlor is transferred for management by a trustee. Fifth, the trust property designated by the settlor is managed by a trustee for the benefit of a beneficiary.
Most people have legal control over themselves and their property. They are able to act on their own behalf. But when a living person is unable to protect or care for himself or herself, or for his or her property, because of old age, illness, or other disability, the law of guardianship (or conservatorship) permits the appointment of a competent person to protect and care for the incompetent person and/or manage the incompetent person's property.
