When you create an estate plan, you plan out how you want your assets to be distributed after you die. However, what many people do not plan for in creating their estate plans is the possibility of someone challenging their will later on, for example, by arguing you lacked the testamentary capacity required to create a valid will. One option to discourage challenges to your will after you die is the inclusion of a “no contest clause,” also known as an “in terrorem clause” (translated from Latin to mean “so as to produce terror”). A no contest clause is a provision in a will stating that if a devisee challenges…
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Holographic Wills and Statutory Requirements to Modify Them
The law distinguishes between typewritten wills, typically prepared by an attorney, and those which are handwritten by oneself. Handwritten wills, known as holographic wills, must meet the statutory requirements set forth by N.C Gen. Stat. S 31-3.4 (2015). These requirements include: (1) the will must be written entirely by hand by the testator; (2) must be subscribed by the testator; and (3) must be found among the testator’s valuable papers or effects. In some cases after a will is drafted, whether by hand or typewritten, the testator my wish to make modifications. An addition or supplement that explains, modifies, or revokes a will, or part of a will, is a…