Wills are important private and confidential documents. An original will should be stored in a safe and secure place after being signed and witnessed. Ideally the place should be fireproof and the like. Depending on the status of family relationships, if kept at home, it the document should be protected from tampering or destruction. And don’t forget to inform your executors where the will is located.
Probate law requires that the original will be attached to an application for a grant of probate from the court. Without it, the timely administration of the deceased’s estate is delayed until the situation is resolved. A summary of the usual approaches to storing a will follows.
Disposing property – what can be disposed of by a will and what can’t – property ownership and control issues
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).
Other property may be owned in the name of a company or trust. In these entities an individual may have controlthrough shareholdings or a power of appointment. When it comes to making a will, it is important to remember that such assets won’t form part of a person’s deceased estate and therefore cannot be disposed by their will. See the table below for examples of what are estate (disposable by will) and non-estate assets. Making a list of property, money and things to be disposed of and who owns what is important. More →