I don't want to talk about it
By Brian Simpande
‘I don’ want to tempt fate.’ ‘I’m too young to die.’ ‘I’m married so I don’t want to.’ ‘I’ don’t have anything anyway.’ ‘I’ haven’t really thought about it.’ ‘That’s just being morbid!’
What answer would you give if you were asked the question? ‘Have you prepared your Will yet?’ A solicitor who prepares wills for people; often get responses like those mentioned above.
Available online, you can download Wills available of such people as William Shakespeare, Who wrote his Will on the 25th March 1616(less than a month before he died), Jane Austin and others. Will Shakespeare’s Will is quite famous because his gift to his wife was his ‘second-best bed’. Now theirs is love and generosity for you?
As we can see from the excuses mentioned at the start of this article there is a seemingly endless list of reasons why you shouldn’t be thinking about Wills and death but there are ,conversely, so many reasons why it’s a good idea to make a Will, whatever your age!
So then, first we will talk about some reasons for making a Will and, if that makes sense, you may want to consider what you need to do to ensure you have your valid Will, and we will talk about that. Alright, hey! Surprise, surprise we are going to have a talk about death-your death in fact-so take a deep breath, here we go…
Why make a Will?
One main reason is that a Will is to provide for your family after death. You can decide what happens with your ‘estate’, which is basically the combination of your assets (house, farm, bank account, savings, car, jewelry etc.). If you don’t make a Will your estate is dealt with under what are called the ‘rules of intestacy’. A rough guide as to how these rules pan out is shown below:
• If you have a spouse ,they will automatically inherit your estate
• If you don’t have but have children your children will inherit
• If you don’t have children, but you have surviving parents your parents will inherit
• If you don’t have parents your brothers or sisters will inherit
• If you don’ have, any surviving grandparent will inherit
• If you don’t have surviving grandparent any uncles or aunts will inherit
• If you don’t have any, your estate will go to the ‘ Crown’ meaning to the state/government who will receive the value of your estate as if they hadn’t already had enough of your cold hard cash while you were still alive.
Friend and Family
If you don’t your estate to go to the people who would inherit under the intestacy rules, the only way to avoid it is to make a will. Some of your estates will automatically go to family or friends if there are arrangements already in place.
Executioners (not necessarily a big man with an axe)
Another reason for preparing a Will is to ensure that those who will be dealing with your estate, which includes sorting out your belongings, paying off any debts, etc. In preparing your Will you can choose a specified person or people to be your executioners. They will have the right to ‘administer’ your estate, i.e. close bank accounts, notify insurance companies of your death and deal with your estate in accordance with the requirements of your will. If you don’t prepare your Will then it will be left to your spouse or your children or your parents or your siblings. This will involve applying to court for permission to become an Executor, which can cause delay and added work for your family in dealing with your estate.
Wait a minute, is it legal?
While the format of your Will is not important, the content is. For it to be a valid document it must comply with certain legal requirements. Usually faults in a Will often times come to light when the person making it has died-which is too late! That is why, for peace of mind, many people choose a solicitor to draft their will so that it can be properly prepared.
In order to make a Will to be valid you must have what we call the ‘capacity’ and the ‘intention’ to make a Will, which, in layman’s language, means: do you know what you’re doing (mentally speaking), do you know what your estate is comprised of and do you know why you’re doing it. If you do, then you must comply with these requirements”
• Your will must be in writing and signed by you, or by someone in your presence, at your request.
• In signing it you are showing that you want the Will to be valid.
• Your Will must be signed by you in the presence of two or more witnesses at the same time who must also sign your Will in your presence. Word of caution, make sure the person witnessing your Will is not going to be benefiting from it otherwise that would invalidate any gift made to the in the Will.
Where is it? It’s under the bed.
What next now that you have prepared the Will? Like any other document it is always best to keep you’re Will in a safe place. However, once prepared it is not set in a stone! You can change it as often as you wish. It is important to remember that the circumstances of your life change, so you may need to review the contents from time to time! Some life –changing circumstances which could affect it include: marriage, children, divorce, re-marriage, a substantial change in your financial position, e.g. if you are fortunate enough to win a lottery.
Preparing a Will is not tempting fate, but it’s just being practical and preparing for your future and the future of those you might be leaving behind. For all of us the future comes to us like a rocket jet. Give it some thought.
‘I don’ want to tempt fate.’ ‘I’m too young to die.’ ‘I’m married so I don’t want to.’ ‘I’ don’t have anything anyway.’ ‘I’ haven’t really thought about it.’ ‘That’s just being morbid!’
What answer would you give if you were asked the question? ‘Have you prepared your Will yet?’ A solicitor who prepares wills for people; often get responses like those mentioned above.
Available online, you can download Wills available of such people as William Shakespeare, Who wrote his Will on the 25th March 1616(less than a month before he died), Jane Austin and others. Will Shakespeare’s Will is quite famous because his gift to his wife was his ‘second-best bed’. Now theirs is love and generosity for you?
As we can see from the excuses mentioned at the start of this article there is a seemingly endless list of reasons why you shouldn’t be thinking about Wills and death but there are ,conversely, so many reasons why it’s a good idea to make a Will, whatever your age!
So then, first we will talk about some reasons for making a Will and, if that makes sense, you may want to consider what you need to do to ensure you have your valid Will, and we will talk about that. Alright, hey! Surprise, surprise we are going to have a talk about death-your death in fact-so take a deep breath, here we go…
Why make a Will?
One main reason is that a Will is to provide for your family after death. You can decide what happens with your ‘estate’, which is basically the combination of your assets (house, farm, bank account, savings, car, jewelry etc.). If you don’t make a Will your estate is dealt with under what are called the ‘rules of intestacy’. A rough guide as to how these rules pan out is shown below:
• If you have a spouse ,they will automatically inherit your estate
• If you don’t have but have children your children will inherit
• If you don’t have children, but you have surviving parents your parents will inherit
• If you don’t have parents your brothers or sisters will inherit
• If you don’ have, any surviving grandparent will inherit
• If you don’t have surviving grandparent any uncles or aunts will inherit
• If you don’t have any, your estate will go to the ‘ Crown’ meaning to the state/government who will receive the value of your estate as if they hadn’t already had enough of your cold hard cash while you were still alive.
Friend and Family
If you don’t your estate to go to the people who would inherit under the intestacy rules, the only way to avoid it is to make a will. Some of your estates will automatically go to family or friends if there are arrangements already in place.
Executioners (not necessarily a big man with an axe)
Another reason for preparing a Will is to ensure that those who will be dealing with your estate, which includes sorting out your belongings, paying off any debts, etc. In preparing your Will you can choose a specified person or people to be your executioners. They will have the right to ‘administer’ your estate, i.e. close bank accounts, notify insurance companies of your death and deal with your estate in accordance with the requirements of your will. If you don’t prepare your Will then it will be left to your spouse or your children or your parents or your siblings. This will involve applying to court for permission to become an Executor, which can cause delay and added work for your family in dealing with your estate.
Wait a minute, is it legal?
While the format of your Will is not important, the content is. For it to be a valid document it must comply with certain legal requirements. Usually faults in a Will often times come to light when the person making it has died-which is too late! That is why, for peace of mind, many people choose a solicitor to draft their will so that it can be properly prepared.
In order to make a Will to be valid you must have what we call the ‘capacity’ and the ‘intention’ to make a Will, which, in layman’s language, means: do you know what you’re doing (mentally speaking), do you know what your estate is comprised of and do you know why you’re doing it. If you do, then you must comply with these requirements”
• Your will must be in writing and signed by you, or by someone in your presence, at your request.
• In signing it you are showing that you want the Will to be valid.
• Your Will must be signed by you in the presence of two or more witnesses at the same time who must also sign your Will in your presence. Word of caution, make sure the person witnessing your Will is not going to be benefiting from it otherwise that would invalidate any gift made to the in the Will.
Where is it? It’s under the bed.
What next now that you have prepared the Will? Like any other document it is always best to keep you’re Will in a safe place. However, once prepared it is not set in a stone! You can change it as often as you wish. It is important to remember that the circumstances of your life change, so you may need to review the contents from time to time! Some life –changing circumstances which could affect it include: marriage, children, divorce, re-marriage, a substantial change in your financial position, e.g. if you are fortunate enough to win a lottery.
Preparing a Will is not tempting fate, but it’s just being practical and preparing for your future and the future of those you might be leaving behind. For all of us the future comes to us like a rocket jet. Give it some thought.