A Will is a declaration in a prescribed form of the intention of the person making it of the matters which he/she wishes to take effect after his/her death.

1. You provide for your beneficiaries in the way you choose rather than letting the Law decides for you.
2. Expedite the legal process.
3. No guarantors (sureties) required by the High Court.
4. You may appoint a guardian of your choice for your infant children.
5. You exercise the right to appoint people of your choice to administer your estate and to carry out your wishes so as to safeguard the interests of those you love and care for.
6. It costs less in terms of legal fees to apply for a GP than a LA.

Yes, two guarantors (sureties) are required by the High Court by way of bond equivalent to the gross value of the deceased’s assets.

Yes, the consent from all members of the family is required. Any beneficiary who is not applying to become the administrator will have to renounce his/her right to the appointed administrator.

The estate of the deceased will be frozen. The immediate family needs to apply for a Letter of Administration (LA) to unlock the deceased’s estate before able to transfer it to his/her family members i.e. the legal beneficiaries.

An authority given under the seal of the Court for the administration of the estate of a person who has died without leaving a Will.

A Court order that formally authorizes the executor to administer the deceased’s estate according to the Will.

When there is a Will left behind by the deceased, the immediate family will apply for a GP. However, when he/she dies without a Will, the family member have to apply for a LA.

• The following person(s) are entitled in accordance to priority when an intestate dies without leaving behind a surviving spouse, children or parent:-
  1. brothers and sisters
  2. grandparents
  3. Uncles and aunts
  4. Great grandparents
  5. Great uncles and aunts and
  6. GOVERNMENT

A Trust is an instrument where the creator of the Trust called the “Settlor” entrusts and transfers the ownership of his/her assets to another person called the “Trustee” under a Trust Deed. The Trustee then acts for the benefit of the named beneficiaries in the Trust Deed for a specific period of time.

An Insurance Trust is a trust funded by insurance policy. It is created through signing of a trust deed by the client (policyholder) and a Trust Corporation (the trustee). Then the client will absolute assign the policy to the trustee. The trust deed contains instructions to the trustee on the manner of management and distribution of the insurance proceeds upon the client’s death or disability.

• This is to ensure that the insurance proceeds are used to:
  
  1. Ensure immediate available usage of funds for your beneficiaries.
  2. Finance education, living and medical expenses of your loved ones.
  3. Pay to your beneficiaries in accordance to your wishes.
  4. Ensure the insurance proceeds are not subjected to claims of the estate by creditors and other claimants.
  5. Pay multiple beneficiaries, whether joint or substitute.

1. To ensure Beneficiaries’ do not squander their inheritance-providing staggered distribution during trust period.
2. Providing for the 2nd family confidentially.
3. Providing for certain family members secretly.
4. Ensuring children with special needs are provided for.
5. Avoid assets being claimed by spouse whom you want to avoid giving and wasteful or non-filial children.
6. Protecting assets from being claimed by your ex-wife before any divorce proceedings starts.