Monday, June 22, 2009
who can challenge my Will and what I can do about it?
Sunday, June 21, 2009
Write your own Will for FREE ?
LAST WILL AND TESTAMENT
of
____________________________________
(Full Names and Surname)
____________________________________
( NRIC / Police Number / Army ID )
____________________________________
____________________________________
(Address)
1. Declaration
I hereby declare that this is my last will and testament and that I hereby revoke, cancel and annul all wills and codicils previously made by me either jointly or severally. I declare that I am of legal age to make this will and of sound mind and that this last will and testament expresses my wishes without undue influence or duress.
2. Family Details
I am married to _____________________________ hereinafter referred to as my spouse.
I have the following children:
Name: ______________________ Date of Birth _________
Name: ______________________ Date of Birth _________
Name: ______________________ Date of Birth _________
3. Appointment of Executors
3.1. I hereby nominate, constitute and appoint _________________________ as Executor or if this Executor is unable or unwilling to serve then I appoint _______________________ as alternate Executor.
3.2. I hereby give and grant the Executor all powers and authority as are required or allowed in law, and especially that of assumption.
3.3. I hereby direct that my Executors shall not be required to furnish security and shall serve without any bond.
3.4. Pending the distribution of my estate my Executors shall have authority to carry on any business, venture or partnership in which I may have any interest at the time of my death.
3.5. My Executors shall have full and absolute power in his/her discretion to sell all or any assets of my estate, whether by public auction or private sale and shall be entitled to let any property in my estate on such terms and conditions as may be acceptable to my beneficiaries.
3.6. My Executors shall have authority to borrow money for any purpose connected with the liquidation and administration of my estate and to that end may encumber any of the assets of my estate.
4. Guardian
4.1. Failing the survival of my spouse as natural guardian I appoint _____________________ or failing him / her I appoint ______________________ to be the legal Guardian of my minor children named:
__________________________
__________________________
__________________________
until such time as they attain the age of _____________ years.
4.2. I direct that my nominated Guardian shall not be required to furnish security for acting in that capacity.
5. Beneficiary
I bequeath the whole of my estate, property and effects, whether movable or immovable, wheresoever situated and of whatsoever nature to my spouse ________________________.
6. Alternate Beneficiaries
6.1. Should my spouse not survive me by thirty (30) days I direct that the whole of my estate, property and effects, whether movable or immovable, wheresoever situated and of whatsoever nature be divided amongst my children named in 2. above in equal shares.
6.2. Should my said spouse and I and my children all die simultaneously or within thirty (30) days of each other as a result of the same accident or calamity, then and in that event, I direct that the whole of my estate, property and effects, whether movable or immovable, wheresoever situated and of whatsoever nature shall devolve as follows:
__________________________________________________________
__________________________________________________________
__________________________________________________________
7. Special Requests
I direct that on my death my remains shall be cremated and all cremation expenses shall be paid out of my estate.
OR
I direct that on my death my remains shall be buried at _______________________ and all funeral expenses shall be paid out of my estate.
8. General
8.1. Words signifying one gender shall include the others and words signifying the singular shall include the plural and vice versa where appropriate.
8.2. Should any provision of this will be judged by an appropriate court of law as invalid it shall not affect any of the remaining provisions whatsoever.
IN WITNESS WHEREOF I hereby set my hand on this _________________ day of _________________20_____ at _______________________________________ in the presence of the undersigned witnesses.
SIGNED: _______________________________
WITNESSES
As witnesses we declare that we are of sound mind and of legal age to witness a will and that to the best of our knowledge ____________________ is of legal age to make a will, appears to be of sound mind and signed this will willingly and free of undue influence or duress. We declare that he / she signed this will in our presence as we signed as witnesses in the presence of each other, all being present at the same time. Under penalty of perjury we declare these statements to be true and correct on this ________________ day of _________________ 20 __ at ________________________________.
Witness 1.
Name: ______________________
Address: ________________________________________
Signature: ________________________
Witness 2.
Name:______________________
Address: ________________________________________
Signature: ________________________
Thursday, August 7, 2008
Terms used in a Will
Beneficiary
One who is named in a Will to receive property - - one who receives a benefit or gift under a Will.
Bequest
A gift. A Will provision leaving property to a Beneficiary.
Codicil
A legal document which is a supplement to a Will. It changes an existing Will.
Estate
All property owned by a person when they die.
Executor
A person appointed in a Will to carry-out the wishes of the Testator and to distribute/administer the property of the deceased. In some jurisdictions this person is called a “Personal Representative”.
Guardian
A person with the legal power and duty to care for another person and/or a person’s property.
Heirs
Persons who inherit from another by operation of law where there is no valid Will.
Intestate
To die without a valid Will.
Legacy
A gift of property in a Will.
Power of Attorney
A legal document authorizing someone else to act for you/on your behalf.
Probate
A Court proceeding in which the validity of a Will is established and, in general, the distribution/administration of the property which passes under the Will.
Residue
All property given by Will or Trust after specific gifts of property have been made - -, ie. the balance/what’s left.
Testator
A person making a Will.
Trust
Legal arrangement under which one person controls property given by another person for the benefit of a third person. The person in control is the Trustee. The person giving property is often called the Settlor/Grantor and the person receiving the benefit is the Beneficiary.
Trustee
A person appointed to administer a Trust.
Will
A legal document in which a person sets-out his/her intentions about what he/she wants done with his/her property after death.
Witness
A person who saw/observed a specific event such as the signing/execution of a Will.