Will & Estate

Most important: estate planning. Something that most people ignore is to draw up a valid will.

Valid will.

Your will is the most important document and must be correct and undersigned. A few facts to keep in mind when you draw up a will:

Minimum requirements:
To implement your last wishes, your will needs to be:
– in writing
– the testator must be 16 years or older and capable of contracting
– the testator must sign each page in the presence of two capable witnesses
– each witness must also sign on the last page of the will.

Changes:
When changes like corrections, addittions or deletions must be done on a will , the testator and the two witnesses must sign next to each change made and in the presence of each other. It is not necessary that the same two witnesses sign the changes of the original will.

Date of will.
The law does not state that a will must be dated. However, it is important that you bring on a date due to the fact that there can be more than one valid will at time of death, which can cause difficulty in reading the wills. It is also important that your will determine that all previous wills and codocills be recalled.

Handwritten will.
The will can be in the handwriting of the testator himself / herself. If the will is in the handwriting of another person who is also named as a heir or an executor , there may be risks. That person will only be able to inheret the amount that he / she would have inheret if the testator died intestate.

Who must draw up your will?
Any person can draw up his / her own will , but it is important to note that the author must consist of experience and specialized knowlege. The author must know the newest techniques and products in the financial business. The author must be in a financial position to stand in for any successful claim regarding damages that a person can incur due to a faulty will.