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Home made will – a good idea?

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 …

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Severing a joint tenancy unilaterally

Why sever a joint tenancy? Severing a joint tenancy is relevant to joint co-owners passing on their property interests to their chosen descendants.  Owning property with others in co-ownership can be either as joint tenants or tenants in common.  The consequences of who inherits a co-owner’s share on death are different.  It is important to …

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Tenancy and co-ownership

Co-ownership, joint tenancy, tenants in commonMany people own property with someone else. An important issue to consider upfront are what happens when one of them dies. Who can take their interest, is this what they want and if not, can they make provision for it in their will?

Check property ownership

Property ownership, will making, company shares, units, trust,

Disposing property by will, in the will-making process requires considerations to be given to what you own in your individual name, as opposed to what you might control, see further below. As only property owned in a personal or individual name can form a deceased estate, it is only this which can be transferred by will, (or the rules of intestacy).

Among the first considerations in making a will is considering what we own. Only property owned personally can form a deceased estate and be disposed of by will, but it is easy to overlook that property thought of as ‘ours’, is legally in another name. It pays to check who owns what, that which is not in your own name, is not yours to give by will.

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