Holographic Will

What Does Holographic Will Mean?

A holographic will is a handwritten will that is entirely written by the testator but lacks the signature of a required witness. Holographic wills are only legally valid in certain states.

Since life insurance policies can be included in holographic wills, they are relevant to the insurance industry. In practice, though, the beneficiary named on the policy itself decides who gets the payout, which makes getting the life insurance beneficiary right more important than what the will says.

Insuranceopedia Explains Holographic Will

Holographic wills are not considered legitimate in many states because it can be challenging to prove that the testator is the actual author. This can be especially problematic if the testator dies suddenly and there are no witnesses to confirm the will’s authenticity, making it difficult to rule out fraud. When a holographic will ends up contested, life insurance proceeds tied to it can sit on hold until the dispute is resolved, so collecting a life insurance payout tends to be smoother when the policy names the beneficiary directly.

However, some states recognize the validity of holographic wills, provided certain requirements are met. For instance, there may need to be proof that the testator wrote the will, the testator must have been of sound mind at the time of writing, and the will must include a clear distribution of the testator’s assets.