Wills And Intestacy

Question 1

What is a will?

Answer 1

A written document that sets out how the estate of a deceased person should be distributed

Question 2

What conditions should be met for a will to be valid?

Answer 2

1. It must be in writing.
2. Must be signed and witnessed by two persons.
3. The person must be over 18 when it is made.
4. The person must have the mental capacity to make the will and understand the effect it will have.
5. The person must not have made it as a result of pressure from someone else.

Question 3

With regards to a will - what is an executor and what happens when an executor is not specified?

Answer 3

1. A will can name one or more executors to handle the estate after death. They “execute” the will.
2. The executor distributes assets, pays debts, and settles taxes before giving inheritances.
3. This process is called probate.
4. If no executor is specified -
   A. A beneficiary (someone inheriting from the estate) usually steps in as an administrator.
   B. The administrator does the same job as an executor.

Question 4

What happens when a person dies without a will or with an invalid will?

Answer 4

1. If someone dies without a will (or their will is not valid), this is called dying intestate.
2. Their money, property, and belongings are shared out based on intestacy rules, not personal wishes.
3. These rules follow a fixed order, meaning the estate usually goes to close family members like a spouse, children, or parents.