Posts Tagged: wills

There is a general understanding on the part of most people that they need to have a will. Many consider that a ‘will kit’ is adequate for the job. Sometimes it is, but, compared to a properly drawn will, it may lead to the loss of the substantial monetary and familial benefits. Asset Protection If…

A will-maker is presumed to be sane, and to have sufficient mental capacity to make a will, unless the contrary is proved. A lack of mental capacity may derive from a congenital intellectual difficulty, trauma affecting the brain, or cognitive processes and disease, including those more commonly occurring with old age. The Dickensian language of…

The effects of family breakdown extend beyond the personal to the economic, including intergenerational wealth transfers such as those created by wills. The Family Court has extensive powers to make orders in relation to the ‘property’ and ‘financial resources’ of couples whose relationship has failed and one or both of whom have asked for its’…

The first step in deciding how and to whom you wish to leave your assets is to identify what your ‘assets’ are. Broadly speaking, they can be divided into ‘estate assets’ and ‘non-estate assets’. Only the former can be left by your will. This is a short list of some estate assets: personal effects; a…

We have written on previous occasions about how a person can challenge a will under the Inheritance (Family Provision) Act 1972 (SA). When drafting a will it must be borne in mind that the members of the will-maker’s family will not always agree with the intentions of the will-maker as expressed in the will and that an…

Sometimes a gift in a Will fails to provide the intended benefit. The possibility of this happening needs to be considered when the will is being drafted. Those beneficiaries most likely to lose or not benefit from an inheritance are known as ‘at-risk beneficiaries’. Some examples include— beneficiaries who may have personal liabilities (for example,…