In last week article I discussed why you should have a valid will. This week therefore thought that I would discuss;
WHAT IS A WILL, WHAT MAKES A WILL A VALID WILL AND WHAT ASSETS YOU CAN LEAVE IN YOUR WILL?
WHAT IS A WILL?
A Will is a legal document by which a person, the Testator, appoints an Executor to administer their Estate after their death, to discharge liabilities and to distribute property as directed to the beneficiaries.
WHAT MAKES A WILL A VALID WILL?
Section 6 of the Succession Act 2006 NSW states that a Will is not valid unless:
(a) It is in writing and is signed by the Testator or by some other person in the presence of and at the direction of the Testator;
(b) The signature is made or acknowledged by the Testator in the presence of two or more witnesses present at the same time;
(c) At least two of those witnesses attest and sign the Will in the presence of the Testator (but not necessarily in the presence of each other); and
(d) The signature of the Testator or of the other person signing the Will in the presence and at the direction of the Testator must be made with the intention of executing the Will.
As always, the answers provided are for your general information only and we ask you to call our office on 1800 650 656 to obtain detailed legal advice for your individual situation.
Peter McManus | Wills and Estate Planning Solicitor