Jolanta B.Bula
Barrister and Solicitor, Notary Public
F.A.Q.: Wills
- I am 25 years old, married, one child, no assets, just hefty student loans. You would not tell ME I needed a will, would you?
Actually, I would. You need it badly. Why? Well, people who are older and richer than you usually already have a lawyer and a will, so, how would I ever find new clients?... Seriously, at your age only those philosophically inclined or terminally ill think about their own death. However, accidents happen every day and if something happened to one of you and there was no testament, the other one would be in a very difficult position for a while with all the accounts blocked, no credit available, no car to her name, etc. Also, if you survive the accident but are unconscious or otherwise unable to make decisions about yourself, the lack of a document called "the power of attorney" creates a legal limbo and a lot of problems for the significant other. And what would happen to your little one, if she was the only one who survived a car crash that claimed the lives of her parents? Would you let the state appoint a custodian for her or would you rather select yourself someone you trust?
- There are ready to use will packages available at stationery stores. Why could I not use one of them, sign it and save on legal fees?
Sure, you can do it. As long as you know what to write in your will; the ready to use package offers just a bit of legalese for the header and the footer of your will. The essence of the document, that is, the dispositions, are left to you. A few precautions. General and simple statements like "I leave everything I have to my beloved wife Wilma Flinstone" create more problems than they solve. For example, what if your significant other would survive you for just a week after an accident that killed you first? You hoped she would leave everything to you niece after her death. Now, it occurs that two testaments have to be opened and various taxes, levies and other costs have to be paid twice! If your wife did not have a will, then the inheritance would be divided among a dozen of relatives some of them I have never seen, or, in lack of them, would be taken over by the state. Even worse a situation occurs when you leave a specific valuable gift (a cottage, stocks, etc.) to one person, say, your niece Jane and the remainder to your wife Helen. Then it may turn out that Helen will actually inherit a debt because she will be liable for taxes payable on the capital gain on the property which you generously presented to Jane. Disaster. There are many pitfalls like that. If you fall in one of them, too bad for your beneficiaries.
One more remark. It is worth to note that the packages available in stationery stores have been prepared by the Ministry of the Attorney General. The representatives of the same organisation act as public trustees and public guardians representing interest of a person, who has not appointed his or her attorneys or has not granted them enought powers. Needless to say, Public Trustees do not act for free; the state fees collected on this occasion are significant part of the governmental revenues.
- I signed a will twenty years ago. Is this will still valid?
It depends. There are some situations, prescribed by law, which make a will null and void. For example, if a person got married after executing a will, such will is automatically invalid. Some old wills may be still be valid, but need to be updated for variety of reasons. For example, a person, whom a testator appointed as an executor, died or moved to a remote location. We also have to remember that wills may be and constantly are affected change in the legislation and jurisprudence. Lawyers know that behind every clause in a will, there is a long history of litigation and court rulings. If your will contains a clause, which caused another will to be abolished by the court, it would be risky not to update it.
Generally, it is a good idea to review a will regularly with your lawyer.
Disclaimer: This article does not constitute a legal advice or express a legal opinion. A specific situation, however typical, should be always assessed by a lawyer based on the actual facts.