A.) For a basic straight forward Will: –
- Both full names and surnames – we’ve got this therefore ignore
- Your ID No’s. – we’ve got this therefore ignore
- Confirmation that Gavin Rennie Bacon of PATC will be Executor of your estates
- Who do you leave your entire estate to? Their full names, ID Nos and residential addresses. (If there are any specific requests then you must specify – Eg My house and contents to my wife, my car to my brother etc)
- Do you want to be buried or cremated?
- Do you want to donate your body or any part thereof to Science? If so, full details please and which institution?
B.) LAST WILL AND TESTAMENTS – complete list
GUIDE ON CHECKLIST
(where reference is made to ‘he’ it is denoted as ‘she’ as well)
- The Testator’s (Man) / Testatrix’s (Women) personal details, that is, his / her full name, identity number, business and home address. Also ascertain that he is literate and can sign his / her name.
- His marital status. If married, the full names and identity number of spouse. How married i.e. in or out of community of property. If out of community of property whether the accrual system is applicable and / or whether the ante-nuptial contract contains special provisions.
- Does he have children? If so their full names and ages (identity numbers if available), whether they are married and if so, whether they have children?
- What is the approximate value of the estate and of what does it consist of? Obtain details of assets including insurance policies, interests in a provident or pension fund or Retirement Annuity, employment details. If self-employed further details, for example, own business, a partnership, close corporation or private company.
- Who are to be the beneficiaries, that is, spouse / life partner, children, employees, other relatives or friends. Ascertain whether he / she wishes to benefit any charitable, religious, educational or public institution (the estate duty saving should be explained to him).
- If there are minor beneficiaries (<18), point out the necessity and advantages of a trust.
- Whom he wishes to appoint as executor and / or trustees.
- Whether he requires his executors and / or trustees to furnish security.
- If there are children, whether he wishes them to benefit equally.
- Whether he / she wants any delay in vesting of an inheritance to any of his beneficiaries. If any of the beneficiaries are insolvent, the consequences of a bequest must be explained.
- If a beneficiary should predecease him, who is the alternative beneficiary.
- Whether he has given or is likely to give any child a gift of some substance and if so, whether he requires such child to collate the gift.
- Whether he wishes to bequeath as a specific legacy any property to a particular person. If so, it must be clearly described.
- Whether he has shares in a public company and if so whether he wishes them to be sold or whether he wishes to bequeath them to a particular person.
- If he has immovable property, whether there is any mortgage bonds on such property and if so, whether he wishes to bequeath bonded property to any particular person free of the bond. Ascertain the whereabouts of the title deeds and obtain correct property description.
- If he wishes a portion of the residue of the estate to be held in trust, what powers are to be given to the trustees and how much the trustees deal with income or capital.
- If a trust is to be created and the trustees are given power of investment, what limitation, if any, does the testator wish to impose as to the nature of investments.
- If any portion of the estate is bequeathed to a female married in community of property does the testator wish such portion to be excluded from such marriage.
- With regard to any pecuniary legacies, whether he wishes any legacy to be given as a pre-legacy (this is particularly important if the amount of all the legacies are such that there may be no residue in the estate and there may have to be an abatement of legacies).
- Whether in the case of any legacy he wishes any conditions to be attached thereto.
- Whether he wishes any conditions to be attached to the heir of the residue of the estate.
- Whether he wishes any portion of the estate to be subject to a usufruct (this is of importance if he leaves a surviving spouse and children and he might wish the survivor to have a usufruct. The effects should be explained to him).
- Whether in the case of mutual will of spouses they wish to mass their estates. The following should be explained:
A) The difference between massing and non-massing and particularly the effects of massing;
B) Refusal by the survivor to aviate under the will and the effects thereof. This is particularly important where the parties are marred in community of property. The parties might wish to make provision in the will for alternative bequests. In the case of the estate of the first-dying if the survivor should refuse to aviate under the will;
C) Since a mutual will is considered to be two separate wills what the result of either party revoking his or her portion of the will during the lifetime of the testators will be.
D) Whether the testator wishes to give a legacy consisting of any annuity to any person.
All items above that are not applicable can be denoted as such. Call to discuss or set up an appointment, if need be.