The Importance of a Will

Am I supposed to have a will? How important are wills really? The answer is yes, you most definitely should have a will. Now let's look at why they are important.

In my opinion, a will is one of the most important legal documents that you can execute.

What is a will?

A will can be defined as a written document in which a testator/testatrix (the person executing the will) voluntarily sets out his/her instructions as to how his/her assets are to devolve following his/her death. A will also covers the care of any minor children you might have.

Why are wills important?

• A will is important because you get to decide how your estate will be distributed.

• You decide who will take care of your minor children.

• It helps to avoid a lengthy probate process.

• You decide who will wind up the affairs of your estate. In other words you get to decide who will be the executor/executrix of your estate.

• It helps to limit family disputes.

• Overall it simplifies the process and helps with the administration of the estate.

So, how important are wills really? If you want your wishes to be met, you need a will.

There are requirements for executing a valid will:

• The testator must have the intention to make a will. Intention is a core requirement for the validity of a will. The testator must not only intend to provide for the devolution of his or her estate, but must also have the intention of doing so in a will.

• Another important element for establishing a valid will is the testator’s own free will. A testator must decide completely of his or her own volition (choice) how his or her estate is to be divided. There are factors that can influence a testator’s free will such as coercion, fraud or undue influence. If any of these influences were present, the will is invalid.

• The testator must also have testamentary capacity. This means that the testator must be 16 years of age or older and the testator must be in sound mind when he or she executes the will.

• The will must be in writing.

• The testator must sign every page of the will, including the last page.

• The testator must sign the will in the presence of two competent witnesses.

• The two competent witnesses must sign the will in each other’s presence and in the presence of the testator.

A competent witness is someone who is 14 years of age or older and who is competent to give evidence in court.

Not a requirement, but important:

• Although it is not officially a requirement, it is always best to date your will.