Why Thy Will Be Done?

Having a will enables you to:

  • Choose your beneficiaries and how your assets are to be distributed;
  • Choose your trustee and executor to administer your estate;
  • Set up a testamentary trust for your minor children, heirs with special needs or charities;
  • Choose the guardian of your minor children;
  • Minimise the chances of family disputes over property;
  • Speed up the distribution process considerably;
  • Reduce the costs of administering your estate;
  • Express your wishes f or your funeral arrangements.
  • If you are married, it is to ensure that your spouse have full control and/or benefit of your estate; (Take note of the Distribution Act in cases where there is no Wlll
    • Leaving a spouse, issue (lawful children) and parents: spouse ¼ issue ½ parents ¼
    • Leaving a spouse and parents but no issue: spouse ½ parents ½
    • Leaving a spouse and issue but no parents: spouse ⅓ issue ⅔
    • Leaving issue and parents but no spouse: issue ⅔ parents ⅓
    • Leaving no spouse, issue or parents, then the following persons are entitled in accordance of priority: brothers and sisters; grandparents; uncles and aunts; great grandparents; great uncles and aunts; government.
  • It is good to consider your children in the will but this can pose a problem if the estate do not have sufficient funds to pay of all liabilities and bank owings and this may incapacitate or limit the spouse in administrating the estate if the limited property is still under financing and finances are limited. If there is a need to dispose of a property wherein the children have a share, the spouse would need a court order and thereafter the proceeds, if any, would have to be held on trust for the named children
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