To Will or Not to Will?
Planning your estate may be the last thing on your mind, but it could save your dependents from financial difficulty and untold suffering.
It is a necessity for individuals to properly plan for the welfare of their loved ones now and in the future.
- A Will is especially crucial if you have loved ones and you care who receives your assets and all you have toiled for, when you are no longer around.
- If you do not have a Will, you allow customs, traditions, third parties etc. to make decisions on the distribution of your assets.
- When you have a Will, you ensure your loved ones will be well taken care of according to your wishes.
Requirements for a Valid Will
- You must be of sound mind at the time your Will is prepared.
- You must understand the implication of preparing a Will.
- You must understand the nature and extent of the assets you own.
- You must be at least 18 years of age.
- The Will must be signed, dated and witnessed by at least two (2) people.
- The Will must be registered in the Probate Registry of the High Court.
- A Will can be amended. The amendment, which is called a Codicil, is subject to the same requirements as the original Will.
Features of Custodian Will
- It is a legal instrument that states how the properties/estate/assets of a person[“the Testator”] will be distributed to named Beneficiaries at his/her death.
- Assets include cash in Bank Accounts, Pension or Retirement Savings Account (RSA), Investments,Shares/Securities, Bonds, Land, Properties and other personal possessions.
- The Will does not become operative until the person (Testator)
Benefits
- Gives assurance of your assets being distributed according to your wishes.
- Provides proper record and easy identification of assets by your Will Executors.
- Enables you to appoint a Guardian(s) for Beneficiaries who are minors (below 18 years).
- Reduces family strife and disagreements.
- Preserves your wealth through generations.
- Your Will would be considered above native laws, customs, religion and tradition.
- Your Will can be updated to include any newly acquired assets or Beneficiaries in a codicil.
Planning on Leaving a Legacy? Contact Us Today.
Why Custodian Trustees?
- We are licensed by the Securities and Exchange Commission to provide Trusteeship services.
- We are a member of the Custodian Group comprising CrusaderSterling Pensions Limited, Custodian Life Assurance Limited, Custodian and Allied Insurance Limited.
- Our highly efficient and seamless service ensures your named Beneficiaries get what is due to them.
- We provide a bouquet of innovative Trust Products such as Education Trust,Private Investment Trust, and Company Secretarial Services.