" Knowledge is Power "

A will is a document containing the written instructions of a person (known as the testator) as to how their estate is to be handled after the testator’s death.

The instruction in general can include the distribution of property and asset, funeral arrangements, care for minors or even pets and any donations.

To make a valid will, the following requirements must be satisfied:

· the will is in writing;

· it is signed by the testator;

· the testator intended to make the will;

· the testator signs in the presence of at least 2 adults (aged 18 and above) witnesses present at the same time; and

· the witnesses attest and sign the will in the presence of the testator.

Provided that a person has testamentary capacity (sound mind), anyone who is an adult over the age of 18 can make a will. As such, a person suffering from dementia for example may not have the testamentary capacity to make a will.

A minor (person under the age of 18) may be able to make a will if they are married or a court order is obtained for a will to be made.

An executor is a person appointed by the testator to carry out the testator’s instructions written in and according to the will (administer the estate). Generally, the executor will be responsible for collecting the assets of the testator, paying any debts and taxes owed by the testator and distributing the remaining to the beneficiaries.

Typically, an executor is also a beneficiary of the testator’s estate although this is not necessary. A maximum of 4 executors can be appointed by the testator and it is recommended that more than 1 executor is appointed.

A will can be revoked by the testator by making a new will that expressly revokes the old will or the testator may physically destroy the will by way of burning or tearing it.

Although it may not be the intention of the testator, a will can be revoked in circumstances where the testator gets married or divorced after making a will. 

We recommend that a will is reviewed every 5 to 10 years to ensure that it remains valid, and the instructions contained in the will is not changed.

A will should also be reviewed and updated if:

· the testator is entering into a new relationship (marriage) or is separating from a current relationship (divorce);

· any changes to the circumstances of the appointed executor resulting in the executor becoming not suitable or fit to remain as the executor (such as bankruptcy or death);

· any changes to the circumstances of any beneficiaries named in the will (such as bankruptcy or death);

· any changes to the testator’s wishes and instructions; or 

· any changes to the testator’s circumstances including the purchase or sale of any property and asset.

Intestacy occurs when a person dies without making a valid will. In these circumstances, the law determines how the estate of the deceased is distributed.