Requirements to create a Will
There are several factors to consider when forming a Will, or testament as it is commonly referred to, and as such is it advised that you consult with a lawyer or professional consultancy firm that is experienced in Wills and the drafting of Wills. It is vital that all requirements are met in order for the Will to be considered valid and so adhering to the relevant standards is very important.
For more information on the requirements to create a will, Contact DeltaQuest.
The requirements to create a Will explained
A will is also known as a testament and is defined as a legal declaration made by the testator (creator of the will). The purpose of the Will is to declare that ones wealth is to be managed or transferred to nominated beneficiaries on the death of the testator.
A testamentary trust is an alternative option for a testator to establish which will transfer ownership of assets to nominated beneficiaries on the death of the owner.
To create a Will certain requirements must be met, these include but are not limited to:
- Testator must be of sound mind and majority age to create a Will
- There is no obligation to enlist a lawyer to draft your Will on your behalf
- The testator must make it clear within the Will that they are the Testator and creator of the Will
- Testator must declare that earlier Will is made are revoked
- Testator must sign and date the Will in front of a witness (typically 2) who cannot be a beneficiary of the Will
- The testators signature must be provided at the end of the Will, this is vitally important and if not done, may render the Will invalid
- The beneficiaries of the Will must be declared within the text of the Will
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