Writing a Will isn’t the most pleasant of tasks. After all, by doing so you’re not only acknowledging your own inevitable demise but actively planning for it.
It is extremely important to have your Will drafted by a professional person with the necessary knowledge. An invalid Will or dying without a Will can have disastrous consequences: not only financially, but people that you may not to leave anything to, may inherit from you.
Requirements of a Legal Will:
- It is only valid if it is in writing
- The document must be signed by the Testator or Testatrix (the person who makes the Will) as well as two witnesses
- The Will must be signed by the person who writes the Will
- The person who makes the Will, as well as the witnesses must be in the presence of each other when the Will is signed
- The witnesses are not allowed to inherit from your Will, so do not let any person who stands to inherit from you sign as a witness. The Executor can also not inherit from the person who makes the Will
Is is also important to note that when finalising the estate there are certain steps that the executor must take. The Executor should therefore be a professional person who knows his/her subject, because if you appoint a family member who is a lay person, the family member will inevitably have to appoint a professional as they won’t know what to do.