THE LAST WILL & TESTAMENT

A “Last Will and Testament” is a legal document provides for the orderly distribution of your property at death according to your wishes.
Those properties includes both moveable and immoveable things.
The Will is the basic document of every estate plan, and its a little more complicated than other documents.

Why do you need a will ?

Who do you want to inherit your estate ?

Beneficiaries name — whether those people are family members or not — and institutions, such as charities, and enough information about the beneficiaries.

Who do you want to authorize the power to execute your wishes as expressed in the will?

The appointing of the executor — the person who is legally responsible for making sure that your directions are carried out — of your will.

Do appoint a substitute executor if, for any reason, your designated executor is unable to perform the official duties.

This person should be someone trustworthy and financially strong enough to pay all debts & taxes before the estate unfreeze.

Who do you want to appoint to take care of your minor children?

Appointment of guardian – your directions as to who will care for your children or for anyone else for whom you are legally responsible.

Do prepare substantial fund for the guardian for the children maintenance and education.

Do appoint a substitute guardian in case, for any reason, your designated guardian is unable to perform the his/her duties.

How do you want your assets to be distributed ?

Distribution of assets – which assets to distribute and to whom, after you are gone.

Do allocate fund to pay off any liabilities, taxes and debts to unlocked the estate.

Creating an insurance fund would be an ideal strategy to settle any costs or debts since they don’t form part of the estate.

Any special arrangements ?

Special clauses – special requests for any arrangements on funerals or any words you want to leave remind the beneficiaries.

THE LAST WILL & TESTAMENT

Why do you need a will ?

The Probate Process takes around 6 months to 2 years