Wills and Intestacy Flashcards
1
Q
What is a will
A
- A will is a written document that sets out how the estate of a deceased person should be distributed
2
Q
What certain conditions are needed for a will to be valid
A
- It must be in writing
- Must be signed and witnessed by two or more persons
- Person must be 18+
- The person have the mental capicity to write the will and understand the effects it may have
- The person must not have made it under pressure from someone else
3
Q
What does ‘probate’ mean in terms of a will
A
- The will must specify the desigmated executor (persons who expected to excute the will which means they will share out estate as specified and deal with any complications)
- Where no executors are specified than a beneficary will act as an administator
4
Q
What happens to a person who dies without a will
A
- The estate is distributed according to the laws of intestacy
