Who Needs a Will?

Author's Website

Tag:

History Wills have been mentioned by Islamic and Jewish laws, and were practised in ancient Greece as well. The chronicler Plutarch mentions Solon, who created a number of laws concerning the will. Solon gave the will-maker a choice as to who should inherit his assets after his death. Till date, this remains the strongest reason in favour of making a will. In England, a commoner had some kind of right over wife, children and property since the time of King Canute. Women were not allowed to make wills till the late nineteenth century. Soldiers and sailors still fall under a special jurisdiction, and the laws governing their wills are different from that of civilians. The Naturalisation Act of 1870 allowed foreign individuals to make wills as well, though this is not applicable if they are still domiciled abroad.

So, as of now, anyone above 18 years of age can make a will, unless he or she is an alien, and does not wish to take up citizenship.

Who Needs a Will?  Everyone does. Even if they do not consider themselves to be ‘rich enough’, a declaration in legal terms, concerning the disposal of property after death, is a necessity for several other reasons as well. <ol><li>There are certain rules concerning the disposal of property if one dies intestate, that is, without a will. These rules may not be what the person had wanted, and the property will be distributed in a manner to which he might have disagreed if he was alive. </li><li>In case of unmarried partners or those without a civil partnership (including same sex marriages), a will is a must, because the living partner may be disinherited of all the property if the laws are indiscriminately applied after the death of one partner. </li><li>It is important to make proper provisions for the children in case one or both parents die suddenly. No one likes to think of it that way, but it is important to do so. </li><li>It must be noted here that while marriage changes the status of a pre-existing will, divorce does not. So there might be tremendous tension, problems and costs involved if a person had more than one marriage, and then died intestate. </li></ol> What does a Will Contain?  A will contains specific information and instructions on the following matters: <ol><li>A list of the total assets – property, capital, savings, shares, pensions – everything that one possesses. If anything is left out from this list, it will again be distributed automatically and raise the chances of confusion and expenses manifold. </li><li>The names of the beneficiary/beneficiaries, i.e. those who will ‘benefit’ from the will. This is the area where maximum conflicts happen. </li><li>If one wants to bequeath to a charity, it must be clearly mentioned. </li><li>The names of the custodians, and the provisions made for children under 18. </li><li>The names of the executors, i.e., those who are going to make sure that a will is carried out as the maker wished. </li></ol>

Issues Related to the Will

There are several matters related to the will. As mentioned above, divorce and remarriage is one such major issue. There are instances when a will is disputed. To avoid confusions, certain declarations are recommended. <ol><li>The benefactor is above 18, of sound mind, and not under any threat or external pressure. </li><li>It is signed in the presence of two witnesses, and then they sign it in front of the will maker. These two witnesses cannot be the beneficiaries, or married partners of beneficiaries.</li><li>Apart from these, it is strongly recommended that a licensed solicitor is involved in making the will, at least to check the final version. </li></ol>

How to Make a Will

To make a will one has to be entitled to it according to the criteria mentioned above, and then make up one’s mind. Some people who make their own wills often make mistakes out of ignorance of the law. So once the decisions have been taken, it is better to sit down with a lawyer and get it properly drawn up. Ultimately, what one has to do is simply decide. As Hamlet had said, “to be or not to be, that is the question.”

Write Review Rating Recommend Print Report All owner's listing

Recommend this listing to your friend

From:
Your Name:
Your E-mail:
To:
Friend's Name:
Friend's Email:

Featured Listings

1. Is Your Child an...
www.child-success-secret
Category: Parenting

Who's Online

Who Needs a Will?

<b>Issues Related to the Will</b>

<b>How to Make a Will </b>

Featured Listings