Why should you get a Will?
Creating a Will helps to ensure that your assets are distributed according to your wishes upon your passing, providing clear directives and minimising potential disputes among beneficiaries. It also allows you to appoint an executor to manage your estate, ensuring that your affairs are handled efficiently and in accordance with your intentions.
It is the kind of legal document that everybody should take the time to prepare.
What are some of the general requirements of a valid Will?
In general, when preparing a will, the following must be in place.
- The Will must be written.
- To make the Will, the testator must be of at least 21 years of age.
- Upon preparation by the testator, the Will must be committed with their signature at the foot of the will.
- After the preparation of the Will, 2 witnesses must be present to witness the signing of the Will by the testator. The witnesses must also leave their signatures on the Will in the presence of the testator.
- The 2 witnesses present must not be beneficiaries of the Will.
What are some recommended clauses in a Will?
When making a Will, you should include the following clauses:
- Your personal particulars and information.
- A revocation clause to revoke any previous Will that was made previously.
- Your marital status.
- The name of your executor(s) who will execute your written Will. A beneficiary of the Will may also be appointed as the executor.
- Appointment of up to 2 guardians to take care of any minor children.
- The name of the beneficiary or beneficiaries who will receive the assets.
- The percentage of your assets each beneficiary is to receive.
- A residuary clause on how to distribute remaining assets based on your wishes.
Get an LPA and Will for a special price
If you are yet to get a Lasting Power of Attorney then you may consider taking advantage of our special promotional price for both your LPA and Will @ $790. Unlike a Will, which takes effect after your passing, an LPA ensures that your personal and financial affairs are managed by someone you trust in the event that you become mentally incapacitated. This legal document provides peace of mind by enabling your appointed proxy to make critical decisions on your behalf, reducing the risk of family disputes and legal complications.