A Will According to the Law

A-Will-According-to-the-Law

A will is a legal declaration of an individual’s intention as to how they wish to dispose of their  property after their death.
It must be:

  1. In writing and
  2. Make a gift of property or appoint an Executor.

A will is only valid if it is executed properly. A Testator has to sign the will or some other person can sign it at his or her direction and in the presence of two independent Witnesses who are present at the same time, see the Testator sign the Will or acknowledge their signatures in the presence of the Testator.
Examples of what can be gifted in a Will (foreign assets require a separate Will made in that jurisdiction):

  1. Property which is land and homes that are held as Tenants in Common.
  2. Money
  3. Chattels (physical things owned such as cars and jewellery)
  4. Business Assets
  5. Shares