About that Will..Tidbits

n a fairytale world, one lives forever. However in real life, we are only here for a time.
While one is alive it is important to plan to the end. One of these ways, is by having a will. A will is a written expression of a person's intention as it relates to the distribution of their assets upon death, and is a part of proper estate planning and being organised.
A will is certainly useful in ensuring this organisation, so that all of the assets that you have acquired throughout your life which would form part of your assets are distributed according to your instructions. i

If you die without leaving a valid will, the law is paramount in determining the distributes of your assets (which will be elaborated upon in a seperate blog post), but in short this is called  dying intestate
It' s no secret that there are many will templates  online, however, a do it yourself ( diy ) in these circumstances is not usually best given the formalities and legal issues that arise when making a will. While you can make your own will, it is usually advisable that you prepare one with the assistance  and guidance of an attorney, since not preparing a proper one is like making none at all. Because there are certain formalities associated with writing a will, having legal advice is critical.

Also important too is that your will is practical. Leaving your luxury vehicles car for your favourite child when there are  six children could, for example, result in some amount of conflict in jamaica as we know it fighting for 'ded lef'. Apart from physical assets, you will also need to specify things such as the appointment of guardianship over your children if they are minors.

Most importantly, your will needs to clear certain formalities to be valid which are:

1. Identify yourself as testator or testatrix. This is the person that is the  author of  the will. This person should be over 18 years of age and should be writing the will without any undue influence. Your will must state that it is your last and that it should revoke all previous wills that were executed before. Also, make sure to identify yourself by your full name.
2. Appoint an executor. This person or institution will be responsible for distributing your assets upon death according to the instructions you have set out in your will. This person must be honest, upstanding, have integrity and be prudent and resourceful as they will be the only one with the authority to apply to the court for the probate of your will or give instructions as to the payment of your debts, such as those acquired during your funeral, for example.

3. Do the math and ensure that your assets are divided up accurately. List the benefactors of your will and appropriate what percentage of your financial assets, for example, should be received by each. Set out also whether your executor should be paid, and what's the amount to be given. Also name an alternative executor in the event that your first choice dies or becomes incapacitated.

4. Validate your will. For the will to be valid in your capacity as the testator, sign it in the presence of two witnesses who are non-beneficiaries of your estate. The witnesses in turn will put their signatures on the will in the presence of you and each other. A useful but necessary tip is to put your initials on all the pages of your will.

5. Double check. Be meticulous in re-reading the will  to ensure that the names of everyone on it is legible and correct dates are given.

6. Put away the will in a safe place. Put your will in a safe place and it is recommended to disclose this to the  elected executor where it is stored. It is not uncommon for persons to store it in a safe for example.
The team at the Law Offices of DM is capable and experienced in creating wills for our clients!. Email and call us for more information #wills #probate #lawyerinJamaica #willsinJamaica #probatelawyer

Comments (0)

Post a Comment
* Your Name:
* Your Email:
(not publicly displayed)
Reply Notification:
Approval Notification:
* Security Image:
Security Image Generate new
Copy the numbers and letters from the security image:
* Message:

Freedom Debt Solutions

  • We use leading-edge metal fabrication equipment to cut a wide range of material thicknesses
  • Gates, Fences, Window Grills, Door Grills, Staircases, Hand Rails, Standard Grills, Structural Fabrication.
  • Metal Trellis, Truck Bodies, Truck Rails, Garbage Skips, Metal Fabrication, Welding, Installations
  • variety of industries: residential homes, commercial developers, properties, construction companies, contractors, private companies and more.
  • Structural - Fabrication: we offer a range of commercial and domestic welding services including on-site welding and wrought iron work.