Distribution of Property through a Legal Will

>Distributing of your property after your death and making some provisions are the primary objectives of a will. Here are some points that you need to put into mind when distributing your properties and assets:

  • Make proper provisions for your spouse, children, or ex-nuptial children. The Family Provision Legislation declares that family members and dependants of the deceased who are left with inadequate provisions in a will may apply to court for further provisions from your estate.
  • Divide your assets fairly and judiciously. An unsatisfied beneficiary may decide to contest the will in some cases.
  • If you decide to exclude one or more of your adult children of your properties, it is wisely advised that you seek a professional legal counsel.
  • Review your will every couple of years to ensure that it still characterises your wishes and desires, like:
    • You might get married after making your will, which will in most circumstances revoke your current will;
    • Your spouse may have died or you may have divorced; or
    • Your assets may have altered significantly or you may no longer own assets left to beneficiaries.