GET STARTED!

First to distribute to your spouse. After your spouse passed away then to your children. Many came with a view of equal distribution to children . This may look fair but dispute may arise when your children are divided into two parts, one part want to sell and the other want to retain. If you have a few assets which have different value it is advisable that the lower valued asset to be given to one of your child. The higher value asset to be shared with your other children. If can’t eliminate all dispute at least we can minimise it.

This is our general advise. Shared assets may cause too many beneficiaries and may come from different family.

Priority should be given to those of your property that you fully owned and these assets shall be given to the specific beneficiary. Second priority is that shared asset, all the owner shall have a Will so that the assets will not eventually loaded with many beneficiaries and difficult to create unanimous decision.

Even worst for example let say 90% of the beneficiary can come with unanimous decision but unfortunately 10% of the beneficiary is a bankrupt. It will affect the 90%.

• A will must have executor(s) which has a duty to act in accordance to your Will. Most people choose wife/husband or siblings. Our advice is to have a few more name for replacement if the executor shall die earlier or unwilling to act.
• The terms must be specific. If there are young children or minor, perhaps creating a trust will be good or perfect so that not all the asset are distributed until your vulnerable young children or minor have their further education completed. Once all your children have fully grown up your assets will be distributed in accordance to your wishes. If the beneficiary shall die before distribution and leaving child, you may consider giving it to his children (means the 3 rd generation) so that no one is left behind.
• If you are getting married, the Will will be void upon marriage unless you specify stated in your Will that it will still be valid after you are married with name of your new spouse stated.
• Residual clause: Anything that is not specified in your will may fall under residual clause. Example, house you brought after the date of your Will may fall under residual clause namely “I give all the residue of my movable and immovable asset to my Wife/ or others”
• You need at least two witnesses which cannot be the beneficiary or the spouse of the beneficiary. Normally we will be the witnesses as we are independent person with no interest.

• You may not required to provide all the documents in relation to your assets as we can create a general terms such as “all my money in bank to be given to my children in equal share”. This example, we don’t not need particulars of your bank account.
• You need to provide a copy of your identity card or passport and also for the executor and beneficiaries so that we can insert the same in the will without mistake.
• Our advise is to contact us to ascertain the documents that you need to provide.

If you have original will the cost will be cheap to get a probate which allow property to be transferred. If the original will is destroyed and left with copy the court may not accept the contain of your will unless it is proven to be your last will or anyone which is capable to be beneficiary and creditor agree to the copy of will. This will complicate matter and increase the cost substantially.

Also, as it is not straight forward case there may be delay in getting a probate.