Tuesday, April 3, 2007

Dying without a Will (Part4) - Writing a Will

Legal Requirement of a valid and proper will
a) Must be at least 21 yrs old
b) Must be in writing
c) Must sign the Will
d) Must have 2 witnesses for the Will
e) Must have testamentary capacity to make and execute the Will.

How to write?
a) Research for template and write yourself - Not recommended because wording used might not be appropriate and can be easily challenged.
b) Seek a professional - Lawyer or Will & Trust Company with Will writing capabilities

What to consider?
a) Know the assets that you have. Come out with an asset list if possible to ease exucutor job in future. List include your bank account, investments, insurances, Businesses, Properties, etc
b) Determine your beneficiaries
c) Know who can be your reliable Executors, Trustees and Guardian(if have children)
d) Brief the Executors, Trustees and Guardians of their roles and their responsibilities in your Will
e) Find out the particulars of these people (Full Name, NRIC, Addresses)
f) Get the Will drafted by a professional
g) Find 2 witnesses. Arrange a day where both of them are present with you
h) Register your Will with the Public Trustee Office in their "Wills Registry"

I had come to the end of my 4 parts series. They are all very skeletal information and only serve as reference. Email me if you are interested in getting your Will done. I'm registered with a Will and Trust Company and am able to assist.

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