1) Choosing your Executor.

The role of an executor is carry out your wishes in your will and liaise with the lawyer to apply to Court for Probate. An Executor should a person be older than 21 years. Your Executor can be one of your beneficiaries. It is also prudent to consult the person you will be asking to be the Executor to be assured that they are comfortable with the role and so that they are aware of the responsibilities. You may want to consider a substitute executor if the first one is unable to do so.

2) Make a simple will.

It is considered prudent to make a simple will for your executor to carry out e.g. giving the beneficiaries a percentage of your aggregate assets.

3) Appoint testamentary guardians for minors.

You should consider someone (above 21 years old) you trust to care and bring up your children until your children reach 21 years old. It is also prudent to consult the person you will be asking to be the guardian to be assured that they are comfortable with the role and so that they are aware of the responsibilities.

4) Check for right of survivorship clauses in Bank Accounts.

Not all bank accounts held in joint names have survivorship clauses, and you should check yours. If there isn’t one you should be clear in your will about such bank accounts.

5) Keep your will in a safe place.

Once your will is made, you should keep your will in a safe place where your executor can find it.

For assistance regarding Wills matters, do contact us to make an appointment.

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Fung Peen Lim

Author Fung Peen Lim

Fung peen is a 20 year veteran of the legal industry. A peace-maker at heart, Fung Peen proficiency in litigation makes him a valuable ally and counsel in helping his clients find amicable legal solutions, in estate planning, debt recovery, disputes, divorce. One wise saying he believes in is “A Will is a great way to love your family with the last thing they read from you”.

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