Will and Probate
A Will is a document, considered as a legal declaration of the intention of a Testator about the distribution or disposal of his possessions or assets etc after his death. The Will would specifically have details of all considerations that the Testator has in mind, to carry out his wish in this regard, after his death.
A person who has assets and desire those assets to be inherited by certain specific persons, can write a will;
- The person must be 18 years of age or more;
- Should have a sound disposing mind; &
- Should not otherwise be debarred from making a Will by any competent authority.
A Will will be ideal for you to ensure the distribution of your assets to the beneficiaries, whom you desire the assets to be given, including the extent thereof. It is not about the value of assets you have, it is to ensure that your assets are passed on to your beneficiaries hassle free.
A Will can also be used to appoint a guardian to look after children until they attain maturity or age of 18 years. In case the child is mentally unstable, the guardian needs to be appointed even if the child is above 18 years of age. A Will also allows you to choose a person to manage the distribution of your assets. This person is called the Executor. A Will eliminates or reduces the intervention of judicial process or third party intervention for the distribution of the assets upon the demise of the Testator.
If one dies without making a Will, then he is called as have died ‘Intestate’ i.e. without leaving behind a Will. In this case his estate will be distributed amongst the family members as per law. In this process, all the legal heirs may get a share in the assets of the deceased, without any regard to the real intentions of the deceased about including or excluding any of the family members or friends. A Will obstructs the natural flow of succession so that assets are inherited as per the wishes of the person (Testator).
Probate is a grant under the seal of the Court authorizing the executor(s) named in the Will to administer the estate of the deceased where the deceased left a Will. If the deceased left no Will, the estate can only be administered by way of a Letter of Administration granted by the Court. If you have any further queries, please do not hesitate to contact us.