MAKING A WILL
The information set out below explains what a will is
under the Will Act 1959 (“the Act”) and what happens to your assets and
liabilities (“Estate”) after your death.
1. WHAT
IS A WILL?
1.1
A WILL is a
document where a person states his intentions as to how his Estate is to be
administered and distributed after his death and who is to be administer the
Estate for the deceased. The person making the will is known as the Testator.
1.2
A Will must be
in writing unless it is a privileged Will as stated in paragraph 5 below.
1.3
The person
making the Will is called the Testator and he must be at least eighteen (18)
years of age and sound mind.
1.4
The person named
by the Testator to administer and distribute the Estate in accordance with the
will is called Executor if a male and Executrix if a female. The Executor need
not be a beneficiary.
1.5
Those persons
who inherit or benefit under the Will are called Beneficiaries.
1.6
If there are
minor Beneficiaries, i.e. persons below the age of eighteen (18) years named in
your Will, you must name at least two (2) Executors.
1.7
You may also
state in your Will that the Executors are also to act as trustees to hold any
assets or invest or use any money for the benefit of the minor Beneficiaries
named in your Will.
1.8
A Will need not
be stamped.
2. DO
YOU NEED A LAWYER TO MAKE A WILL?
2.1
You do not need
a lawyer to make a Will.
2.2
However, your
home-made Will may be ineffective and invalid and this may cause your
Executors/Beneficiaries unnecessary expense and distress.
2.3
It is therefore
in your interest to consult a lawyer who would be in a better position to
advise you and draft your Will for you.
3. WHAT
YOU CAN INCLUDE IN A WILL
3.1 In your Will, you should:
3.1.1
Name the person
(s) you wish to nominate as Executor (s).
3.1.2
Name the Beneficiaries
to whom you wish to give your assets and property and to the proportion the
Beneficiaries are to inherit.
3.1.3
You may, if you
so wish specify which Beneficiary is to inherit which asset/property.
3.1.4
Make provisions
for any minors including their custody & guardianship.
4. WITNESSING
YOUR WILL
4.1 The Testator must sign at the foot of
every page and at the end of the Will and date it.
4.2 The Testator’s signature must be
witnessed by at least two (2) persons who are NOT Beneficiaries under the Will
and who are NOT the husband/wives of the Beneficiaries.
4.3 An Executor who is NOT a Beneficiary or a
husband/wife of any Beneficiary under the Will may witness the Will.
5. PRIVILEGED
WILLS OF SOLDIERS, AIRMEN AND SAILORS
5.1 A soldier in actual military service, or
a mariner or a seaman (naval forces) at sea, is entitled to make what is called
a “PRIVILEGED WILL”.
5.2 A Privileged Will may be oral or in
writing and need not signed by the Testator.
5.3 A Privileged Will becomes null upon expiry
of one (1) month after the Testator being still alive, cease to be a soldier in
actual military service or a mariner or seamen at sea.
6. EPF
MONIES
6.1
If you have made
a nomination under the Employees Provident Fund (EPF) Act for your EPF monies,
your nominees shall be entitled to your EPF monies regardless of what you state
in your Will.
6.2
Please note that
your EPF Nomination is revoked as follows:
6.2.1
upon the death
of the nominee during your lifetime as member; or
6.2.2
by notice of
revocation made by you as member; or
6.2.3
by subsequent nomination made by you as member of the
Fund. The later nomination will supersede the earlier.
Therefore you ought to make
a fresh nomination after the marriage.
7. CHANGING
YOUR WILL
7.1
You may change
your Will at any time and from time to time during your lifetime.
7.2
However, never
attempt to change your will by deleting words or adding words in or by
attaching anything to it. If you do, your Will becomes ineffective or invalid
unless the changes are properly made.
7.3
You should rewrite
your Will if you wish to change it. The new Will will
automatically super cede the previous Will.
8. REVIEWING
YOUR WILL
8.1
Generally, if
you marry or re-marry, your Will will be revoked by
the marriage and becomes null or cancelled.
8.2
You should also
review your Will:
8.2.1
If you change
your name or anyone mentioned in the Will changes his;
8.2.2
If your Executor dies or becomes unfit/ unsuitable to act on
your behalf.
8.3
If there are any
other changes which will affect the Will.
8.4
It is advisable
to review your Will regularly.
9. MAKING
KNOWN YOUR WILL
9.1
Although a Will
is a private document, it is important that your family and especially your
Executor(s) know that you have a Will and where it is kept.
9.2
If you wish your
lawyer may keep your Will for you. You should give your Executor(s) your
lawyer’s name and address.
10. ADMINISTERING
YOUR ESTATE
10.1
Your Will takes
effect only upon your death.
10.2
Your executor
would have to apply to Court for a Grant of Probate.
10.3
Once the Grant
of Probate is issued, the Will becomes a public document. The Original Will is
retained by the Court.
10.4
Your Executor
will be given a copy of the Will together with the Grant of Probate.
10.5
All your
property and assets will pas to your Executor, who will have the responsibility
of administering and distributing the Estate according to your Will.
11. IF YOU
DO NOT MAKE A WILL
11.1
If you pass away
without making a Will, your assets will be distributed according to the rules
of intestacy as laid down in the Distribution Act, 1958.
11.2
Your lawyer can
advise you about these rules and how they apply to your estate.
11.3
If you die
without making a Will, your Estate may be distributed to persons whom you do
not intend to give anything.
11.4
Furthermore, the
people who will look after your Will are not of your choice. They are called
“Administrators” if males and “Administratrixs” if
females instead of Executors although they perform a similar task.
11.5
They have to
apply to Court for “Letter of Administration” and the procedure is generally
more complicated than in the case when you have a Will. For example, the
administrators will have to provide two sureties (or guarantors) with
unencumbered assets equivalent to the value of your Estate unless they obtain a
Court Order dispensing with this.
11.6
If you have
specific intentions about providing for your family members, friends or a
charity after your death, you should consider making a Will.
12.1
Some of the
provisions mentioned above do not apply to Muslims.
12.2
Generally,
Muslims can only dispose off or give away one-third (1/3) of his Estate under a
Will to non-family members.
THE END