How to Make a Will in Wyoming

Making a will in Wyoming is not a preserve for the old and the wealthy; it is necessary for all adults of sound mind. With a will, you can plan for your future and the future of the people you care about; you direct how your assets are utilized after your death. Learn how to make a will in Wyoming by reading this article today. 

What Are the Steps to Create a Will in Wyoming

The following are the steps to create a will in Wyoming:

1. Decide on the type of will you would want to create, whether it is a simple will, mutual will, a handwritten will, or a joint will;
2. Include a list of your beneficiaries in the will;
3. List all your assets in the will, including personal property, real estate, bank accounts;
4. Name an executor in the will (this is a person who will carry out your wishes);
5. Designate a guardian for your minor children and dependents;
6. Designate a guardian for your pets;
7. Add any specific bequests to your beneficiaries;
8. Add your signature to the will, and 
9. Store your will safely.

What Happens If I Don’t Have a Will in Wyoming

When you die without having a will, your estate is divided according to the intestacy laws. Intestacy laws dictate that only your close relatives inherit your property. Your spouse, children, siblings, parents, and other relatives will inherit your property. To avoid intestacy laws, you can write your will today by consulting LegalPen, an online will-writing company. 

What Are the Requirements for Writing a Last Will and Testament in Wyoming

The requirements for making a Will in Wyoming are:

1. The testator must be at least 18 years old;
2. They should be of sound mind;
3. The will must be in writing, and 
4. Two competent witnesses must witness the testator signing the will. 

How Often Should You Review and Update Your Wyoming Will

You should review and update your will yearly. Updating and reviewing your will allows you to accommodate life and proprietary changes to your will. Changes in your life can include the death of a relative, the birth of a child, the sale or purchase of property, the death of an executor, or the acquisition of a pet. 

How to Revise and Update Your Will in Wyoming?

You revise and update your will by creating a new one or drafting an instrument known as a ‘codicil.’ Drafting a new will is done when the changes to the will are significant while creating a codicil, which is applicable when the changes to a will are minor. The will and the codicil must be signed by the testator and witnessed by two competent witnesses. In case you choose to create a new will, make sure you revoke the existing will and date the new will.

What Makes a Will Valid in Wyoming?

A Will is Valid in Wyoming in one which:

1. Writing: The will must be in writing. 
2. Signature: The maker of the will must be signed by the testator.
3. Witnesses: The will must be signed by two competent witnesses, who should not be beneficiaries under the will. 
4. Notarization: The will must not be notarized. However, if the will-maker wants to make it self-proving, they can swear a self-proving affidavit. 

Can a Handwritten Will Be Valid in Wyoming?

Yes, a handwritten will is valid in Wyoming. It must be written entirely by the testator and signed without any witnesses. Wyoming allows handwritten wills if they are written in the testator’s handwriting. For guidance on how to write your will, you can check out Do It Yourself Wills available online to learn how to write a will. 

How Do I Sign My Wyoming Will?

You sign your Wyoming will at the end of the document. The will must be signed in the presence of two competent witnesses who must see you signing the will. The signature on the will may be your official signature, the initials of your name, or your thumbprint. 

What Can I Include in an Online Will in Wyoming?

Your online Wyoming will shall have the following information:

1. Your name, to show that you are the maker of the will
2. A list of your beneficiaries: the names of your beneficiaries should be written in full;
3. A list of all your assets, including bank accounts, real estate property, and personal property;
4. Name an executor who will be in charge of administering your estate;
5. Name a guardian for your minor children and dependents, and
6. Include your funeral and burial wishes. 

Types of Assets Covered in a Wyoming Will

Some assets are exempt from your Wyoming will. Assets include those held in trust, joint bank accounts, insurance accounts with a named beneficiary, retirement accounts, and real estate with joint tenancy or rights of survivorship. However, you can include the following assets in your Wyoming will: 

1. Financial investments such as stocks and bonds;
2. Real estate property such as apartments and land;
3. Bank accounts in the testator’s name;
4. Personal property such as clothing, collectibles, jewelry;
5. Business interests and stakes in companies; and
6. Vehicles, boats, and other property. 

Can I Revoke or Change My Will in Wyoming?

Yes, you can revoke or change a will in Wyoming. Revoking a will refers to officially invalidating or canceling an existing will to ensure it does not have legal effect. When you revoke a will without writing a new will, you are considered to have died without a will. 

In Wyoming, you can change a will by writing a new will or by amending an existing will with an instrument known as a codicil. 

How Do You Revoke or Change Your Will in Wyoming?

When revoking your will, you must have the intention to revoke or change it and revoke or change the will. You can revoke your will by:  

1. Making a new will that revokes an old will, the clause should state that the new will revokes the old will. How often should one update a will depends on how frequently significant changes happen in their life. 
2. Canceling, burning, tearing, obliterating, or destroying whole or part of your will; and
3. You are ordering someone to cancel, burn, obliterate, or tear the whole or part of it in your presence.

Additionally, divorce revokes a will. Any provision in the will that allocates property or assets to your former spouse is revoked. This rule does not apply if you happen to remarry your spouse or you specifically state in your will that the divorce should not affect the provisions in your will. 

Can I Make a Digital or Electronic Will in Wyoming?

No, you cannot make a digital or electronic will in Wyoming. Unlike other U.S. states, Wyoming has not enacted statutes that make electronic wills legal. However, you can create your will using the available online resources such as LegalPen and have it printed for execution, witnessing, and safe and secure storage. 

Who Can Witness a Will in Wyoming?

A witness to the execution of a will should be a ‘disinterested’ person. A disinterested person means the person is not a beneficiary under the will. The witnesses should be two credible persons, adults of sound mind. When a beneficiary under a will witnesses the execution of a will, the will should be seen by an additional witness.

Should My Will Name an Executor?

Yes, your will should name an executor. The executor will ensure that the decedent’s wishes are carried out as the will provides. Additionally, they institute the probate process by filing a will at the probate court, providing notices to beneficiaries under a will and to creditors, setting up bank accounts for running the affairs of the decedent’s estate, and determining and reporting the inventory of the estate. They maintain and protect the assets of the estate.

What Are the Wyoming Will Executor Requirements?

In most circumstances, spouses, children, friends, and other family members are considered executors. Wyoming executors have to:

1. To be residents of Wyoming;
2. They should be sound mind;
3. They should not be declared bankrupt, and 
4. They should be adults. 

What Happens to a Will After Death in Wyoming?

After death in Wyoming, a will is filed in the probate court in the county where the decedent resided before their death. The will is filed with a petition for probate to allow for its validation and subsequent devolution of property as stipulated in the will. The executor or the person who has custody of the will should file the will within two weeks after the decedent’s death. 

What is the Impact of Marriage and Divorce on Your Wyoming Will?

In Wyoming, after executing a will, if the testator is divorced or their marriage annulled, any will made during the subsistence of the marriage is revoked. Any disposition made to a former spouse or any clause appointing a former spouse as a power of attorney is revoked and voided. 

Additionally, the subsequent marriage of a bachelor or a spinster invalidates any will made before the marriage except when the will was made in contemplation of marriage. To prevent revocation of a will, married couples should make a will for married couples after marriage.  

Do All Wills in Wyoming Have to Go Through Probate?

Yes, all wills have to go through probate in Wyoming. The Wyoming Statute Chapter 2, section 4-205 states that if a testator dies having a valid will, the will must be admitted to the probate court. It must be submitted alongside other required documentation, such as a petition for probate, notices, and evidentiary support. However, the length of the probate process varies depending on the complexity of the deceased’s estate. Estates with a smaller value and no disputes take less time, whereas estates with a higher value may take more time, and the probate process may be more expensive. 

Is Wyoming a Community Property State?

No, Wyoming is an equitable division state. After divorce, the property is divided equitably rather than equally. The division of the property is left to the discretion of the court, which considers various factors such as the economic status of each spouse, the age and health of each spouse, the monetary contributions to the acquisition of the property, the non-monetary contribution to the marriage, the number of children, and the person with custody of the children.  

How is Wyoming Intestate Succession Done?

In Wyoming, intestate succession is done by the intestacy laws. When a decedent person is married, the spouse will receive the entire estate. When the decedent has children, the spouse will receive 50% of the estate, and the children will divide the remainder equally. When the decedent had a spouse and no children, they would divide the estate equally. When the deceased has no spouse or children, the estate will devolve to the decedent’s parents. When the decedent has no spouse, children, or parents, the estate devolves to the decedent’s siblings. 

How is Estate and Inheritance Tax in Wyoming Done? 

Wyoming does not have a state-level estate tax or inheritance tax. Beneficiaries of the deceased’s estate do not have to pay inheritance tax, and the deceased’s estate does not have to remit estate tax. However, a federal tax is imposed on the deceased’s estate.