The importance of drawing up a Will that complies with the necessary formalities is brought home to us in difficult times. One of the formalities of a valid Will is that it must be in writing, typed or handwritten. A handwritten Will is valid, but it must be written by the testator /testatrix or another …
Wills should have clear provisions on the rights of family members to immovable property after the owner dies. One way (the simplest) is to direct in the will that the property be sold and the proceeds divided among the children. This will avoid any joint ownership that could lead to disagreements among his children. However, …
Family rights to immovable property after death of the owner by Trust and Estates Read More »
Often the inheritance of minor beneficiaries under a Will must be administered on their behalf after the death of the Testator. One way of doing so, is by using a Testamentary Trust. The difference between an Inter Vivos Trust and a Testamentary (or Mortis Causa Trust) is that the former comes into effect during the …
Most people are familiar with a will or testament and understand the importance of having this legal declaration drafted, by which the testator nominates an executor to manage his or her estate and provide for the distribution of his or her property to beneficiaries when he or she dies. But how many people have considered …