Why is having a will a good idea, and what happens if there
is no will?
by David M. Israel
Having a will is always a good idea. Although the
law provides for the possibility of having no will (intestacy)
the final outcome may not be one the testator would prefer.
Therefore, it is a good idea to have a will since it enables
one to choose an executor, decide who will receive the benefit
of the estate, determine who should look after the minor
children, specify other personal instructions that a testator
may wish to make and indicate the age upon which the beneficiaries
will receive their inheritance.
To put it simply, wills allow the testator to state his personal
wishes and to preserve them in a legally binding document. If
there is no will, usually a spouse or a relative will obtain
a court authorized authority to deal with the deceased individual’s
estate as prescribed by the law. In the event that there is
no one available to deal with the estate, a government appointed
Public Trustee will become an administrator and deal with the
estate.
To contact the author, please email disrael@smhilaw.com
The information contained in this message is general
and should not substitute for the advice and counsel of
a licensed lawyer. |
|
