Ambulatory Will:
An ambulatory will refers to a legal document that allows an individual to make changes or revoke their will at any time during their lifetime. Unlike a traditional will, which becomes effective only upon the testator’s death, an ambulatory will remains flexible and subject to modification as long as the testator is mentally competent. This type of will provides the testator with the ability to adapt their estate plan to changing circumstances, such as acquiring new assets, changing beneficiaries, or altering distribution percentages. Ambulatory wills are commonly used to ensure that the testator’s final wishes accurately reflect their current intentions and preferences.
An ambulatory will is a type of will that can be changed or revoked by the testator (the person making the will) at any time during their lifetime. Unlike a traditional will, which becomes effective only upon the testator’s death, an ambulatory will allows for flexibility and modifications to be made as circumstances change.
The key characteristic of an ambulatory will is its revocability. This means that the testator has the power to alter or cancel the provisions of the will at any point before their death. This flexibility allows the testator to adapt their estate plan to reflect changes in their assets, family dynamics, or personal preferences.
To create an ambulatory will, the testator must meet the legal requirements for a valid will, such as being of sound mind and having the necessary testamentary capacity. The will must also be properly executed according to the applicable laws of the jurisdiction.
It is important to note that an ambulatory will does not provide the same level of certainty and finality as a traditional will. Since it can be changed or revoked at any time, it may create uncertainty and potential disputes among beneficiaries or heirs. Therefore, it is advisable for individuals considering an ambulatory will to seek legal advice to ensure their intentions are properly documented and to minimize the risk of future conflicts.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 29th March 2024.
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