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Law of succession - Coursework Example

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Law of Succession Name Instructor QUESTION 1 Issues, which arise in this case Preparing a will is a significant way to distribute properties and funds according to one’s wish. According to De Waal (2003, p5), a will is a legal document that designates the transfer of assets and properties after one die, and can only be documented by a person over the age of 18…
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Law of succession
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Download file to see previous pages However, there are issues that arise in this case, which this paper seeks to discuss. First, Elisa failed to document basic information on the will, but only went to an extent of instructing Mary that she wished her properties to be in equal shares to her children; Damon, Nigel, and Bella. In this case, it would be paramount if the will had basic information that entails name, marital status, children, and address. It is smart to provide basic information before drawing up the will, which act as a clear guide of how the will relates to the testator and his beneficiaries. In this case; it would be essential to outline the intended beneficiaries, their relationship to her, where they lived, and their age, which lack of it would lead to protracted legal claims and redundant confrontations between the deceased later. Following this, Elisa could have carefully considered the emotional and practical impact of the will when it lacks some basic information. As discussed, Elisa’s will lack basic information on the children’s age, Elisa marital status, and her address all, which are indispensable in transfer of the will. Despite having a strong desire to equalize her shares to her three children, there are issues which arise on the will lacking some basic information. In this case, it would be paramount for Elisa to state the age of her children in the will so that in the future, it would eradicate problems attributed by lack of this information. Still, it would be paramount to indicate address and marital status to avoid misconceptions that Elisa was once married hence, the partner demands the inheritance (Francis 2003, p80). Secondly, the case lack an executor who would oversee the distribution of properties as stipulated in the will. Choosing an executor is the most important decision in that he tends to carry out the final wishes. In most cases, most people prefer to pick an adult child or a spouse to neutral third party. However, it makes sense choosing a neutral third party to carry out the wishes of the will because he would carry out his procedures without favoritism. As indicated in the case, when Elisa died, crisis existed since according to will, the residuary estate should be equalized among her three children, but conflicts emerged of the will having people such as Dante who Elisa had never known. Such crisis would not occur if, there was an Executor who would carry out the wishes of the will. It is indispensable to bear in mind; Mary’s responsibility was to draft Elisa’s will professionally. Nevertheless, making a valid will requires testator to have an executor who would ensure that everyone respects the will. It is crucial to note that, children under the age of 18 years should not inherit parents’ estate. This is the most important reason why it makes sense, having an executor in the will to carry out the final wishes stated (Lifford 2003, p50). Thirdly, an issue arises on, lacking to list all assets, their cost, their worth, and their location. Still, the will fails to indicate where Elisa’s children live and their respective age. It is true that a will is a chance to list the basic information of the assets, the intended beneficiaries, and their age. This would prove that the beneficiaries are of the sound mind and memory. Typically, since Elisa wished ...Download file to see next pagesRead More
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