What Is A Will?
It is a document you have signed in the presence of two witnesses, recognised by law and administered in the Supreme Court, as being your wishes for the distribution of your assets after you have died. A valid Will can be made when you are 18 years
of age.
Your assets can include money, property, shares, furniture, insurance policies paintings, personal effects etc. The executor you name in your Will ensures they are distributed as you want to your beneficiaries. The assets of a deceased person are described as their ‘estate’.
Why Do I Need a Will?
If you do not have a valid Will, the Court determines you have died ‘intestate’. It then appoints an administrator who distributes your assets according to a specific legal formula.
Remember to keep your Will up to date. As the years go by you will acquire more assets and your domestic circumstances may change such as the birth of children. If you divorce and re-marry, your existing Will is no longer valid. In this case a new valid Will is required to match your changed circumstances.
