Exordium Clause - Explained
What is an Exordium Clause?
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What is an Exordium Clause?
An exordium clause is the opening clause of a Last Will and Testament ("Will") that officially states that the document is "a will."
How Does an Exordium Clause Work?
An exordium clause also introduces the testator or the person making the will and shows that he or she was of sound mind at the time the will was written.
Even More of an Explanation of an Exordium Clause
The exordium clause is often bundled with the declarations, such as where the grantor states that they are of sound mind and capable of making legal decisions. An exordium clause provides insight into the basic provisions of the document. There are some basic contents of an exordium clause:
- The identity of the grantor (the person making the will);
- The residence of the grantor at the time the will was made;
- A revocation of all previous wills made by the testator; and
- A declaration that the document is the current will of the named person.
An exordium clause may also identify the people involved in the execution of the will and the key roles of each party. Aside from this clause, there are other parts of components of a will that contain the beneficiaries or heirs, the size, type, quality and quantity of property that must be transferred to the heirs, among other details.
- Succession Planning
- Chartered Trust and Estate Planner
- Cy Pres Doctrine
- Exordium Clause
- Non-Contestability (No Contest) Clause
- Per Stirpes
- Elective Share
Qualified Domestic Relations Order (QDRO)
- Declaration of Trust
- Uniform Gifts for Minors Act
- Acceptance of Office by Trustee
- Beneficial Interest
- Asset Protection Trust
- Bare Trust
- Blind Trust
- Charitable Lead Trust
- Credit Shelter Trust
- Discretionary Trust
- Generation Skipping Trust
- Grantor Trust Rules
- Living Trust
- Inter Vivos Trust
- Qualified Domestic Trust (QDOT)
- Qualified Terminal Interest Protection Trust (QTIP)
- ABLE Account
- Accumulated Income Payments (Canada)
- Charitable Split-Dollar Insurance Plan
- Coverdell Education Savings Account