A home made will is one prepared by the willmaker themselves. Maybe using a “will kit” or something found online or a digital recording. However made a home-made will is composed without the services of a lawyer and the benefit of individual legal advice. This may seem an economical and convenient approach to will-making. While …
An outline of a how a gift over works in a will. A gift over in a will is when the person designated to receive it has died, the gift then passes over to a substitute person, if so named to take.The substitute beneficiary only inherits if the main beneficiary has already died, not survived the deceased or died before attaining a vested interest.
Who our ‘nieces and nephews’ are, if we have them, may seem so obvious as to not need mentioning, after all it is all in the family and identifying them should not be a problem.
Leaving a gift to be divided among “nieces and nephews” by will then, should be a simple matter. Not always, as circumstances and relationships may change from the time a will is made to the date of death.
Not everyone lives and works in the community in which they grew up, surrounded by family and friends.
Many leave to pursue opportunities elsewhere, maybe never to return. Family ties may weaken in time, and contact is lost. What if you want to leave them something in your will?
A will is a testamentary document, often referred to by lawyers as an ‘instrument’, setting out what a person intends to have happen to their property, (real and personal), and other matters, when they die.
It is the legal way to record a person’s instructions and wishes on how they want their property distributed on the event of their death, and who is to responsible for carrying out those wishes.
Because it is to take effect only on death, a will is referred to as being ‘testamentary’.
A testamentary document or instrument is one which its writer intends, at the time of writing it, to come into effect when they die, and not before. It is where a person sets out their intentions for the distribution of their property when they die.