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Wills
and Probate
B A B C 2 0 0 7
D a t e l i n e A s i a
c o n t a c t s
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Why do you
need a Will?
Wills are not just for the rich. A Will
is for anyone who cares about what happens to his or her
assets after he or she has passed away. It is the primary
document for transferring your property and wealth after
you die. Without a Will the court will order your debts
paid and assets distributed according to the laws of the
land without considering your wishes.
In addition to that, through a Will, you
can appoint a guardian to raise your children and manage
their finances. You can also appoint someone you trust i.e.
a personal representative, to manage your estate. A Will
can also protect your minor children by providing that your
property is not distributed immediately to them, but is
held in trust until they reach a certain age. You can also
incorporate your burial instructions in your Will.
Can you draft your own Will?
Yes and no. You may use the simple Will
downloadable
free from Miller Peart with the rider that it may only
be appropriate if you do not have many assets or your wishes
are not complicated. You must state your wishes accurately
or completely, or the results may not be what you intended.
Download
your free Will here (MS Word 11k)
If you do have a lot of assets, such as
real estate in different parts of the world, bank accounts,
stocks and bonds, you need a more sophisticated Will to
meet your goals and preserve your estate for your heirs
as fully as possible. In such cases you should consult a
lawyer at Miller
Peart and a more detailed questionnaire will be provided.
Notes on Making a Will
- A Will is usually cancelled if you
marry after making it. You will need to make another Will
immediately, or one which takes a forthcoming marriage
into account.
- On divorce, gifts to your husband/wife
are cancelled as is his/her appointment as executor but
the rest of the Will stands. This can create problems
and it is better to make a new Will.
- If you are not making any provision
for a husband/wife/partner or a former husband/wife/partner,
it is possible that he/she could make a claim against
your estate. If this does apply please seek further advice
from us.
- Please feel free to ask for our
help or advice or more information on any topic related
to your Will
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