Drafting or writing your Will yourself is a good thing. However, you may still make mistakes that may invalidate your Will. The following are just some of the possible errors a person make make in the process of doing their Will on their own. Making a Will but not signing it It is not unusual […]
Month: April 2019
Testamentary trust and the “problem” dependent
What happens if you have a spendthrift dependent or one who is unable manage money? In making your Will you have to worry about leaving money to such a dependent. This could happen if you have a family member who is: A bankrupt A gambler Alcoholic or a drug addict A spendthrift Likely to marry […]
The Role of a Guardian appointed by a Will
The role of a person appointed as Guardian in a Will is to raise the children. Nothing else. The exception would be when the guardian is also appointed as the executor and trustee. Otherwise, the guardian does NOT get to manage the children’s inheritance. It’s the trustee that is solely responsible for management of the […]
Executor and trustee of a Will
Who can be an executor? Any person over 21 years of age can be an executor including someone who is a beneficiary in the Will. Ideally an executor should be someone who is capable of managing money. Lawyers may be engaged to help with the Probate process. However it is the executor that must be […]
How Section 26 of the Wills Act works if a beneficiary who is a child of the will maker dies
If a beneficiary who passes away before the will maker is a child of the will maker, Section 26 of the Wills Act may apply. This follows up on an earlier post ‘What happens if a beneficiary in my Will dies before me?’. If a beneficiary in a Will but dies before the will maker […]