Who qualifies to register a Will?
Answer: Any adult who has a valuable asset.
Often times people under 40 assume that they do not need a Will until they are about to retire at 60. This is a common misconception which only cause more problems when the unforeseen happens.
The assumption that you will live long enough to sit down with your attorney to prepare a Will is robbing you of the chance to put your house in order. Wisdom demands that you should always be a step ahead.
What should you include in your Will :
If you know that you own anything that you consider as valuable then now is time for you to start enquiring about getting a Will registered. One can include almost anything to their Will as long as they are the rightful owners. This may range from a collection of high-end sneakers, watches, hand bags to your first plot, house, farm or machinery that you own.
When you prepare to register a Will you need to first identify your Executors who Will be tasked with the role of ensuring that your Estate is distributed in accordance with your Will your Executors should be individuals who do not stand benefit under your Will. They should also be trustworthy and accountable.
Next you prepare an inventory of all your assets (Land, movables, shares or any other beneficial interests). You will need to decide how you want them to distributed amongst your heirs (beneficiaries).
Conditions that you can place on your inheritance
There are certain conditions you can place on your inheritance and these are;
- The age at which your heirs should inherit;
- The exclusion of the property from the heir’s joint marital property (This is to ensure that your legacy remains within your family)
Your Will allows you a chance to convey your wishes regarding how and where you want to be buried.
Your Will allows you to decide the line of succession in the event your heir dies before you (especially if you do not amend it afterwards). It allows you to explicitly exclude someone from inheriting from you. That is to say, if there is someone who is likely to inherit from your estate under the cultural customs of your tribe, you can specify that you leave them nothing. This is to ensure that there is no doubt or speculation that they were merely forgotten.
Another Interesting condition that you can include in a Will is that you can leave your house to your children on condition that your spouse shall remain in full occupation, undisturbed for the duration of their lifetime. This protects your spouse from eviction from the property by anyone and gives the children the assurance of an inheritance in the near future. This type of setup is called a Fidelcommissum.
Avoid the dreaded family estate battle
In a country (such as Botswana) that has a lot of blended families, a Fideicommissum eases the tension between stepparents and stepchildren because it creates a truce between them.
If you die without a Will, your assets will be distributed according to your cultural customs. For example, some cultures do not recognize a woman’s right to inherit and only sons inherit property especially land whereas women /girls get sentimental household items.
As a parting thought, consider whether you would entrust the division of your valuables to your culture or to the state to manage and distribute it according to your Will.
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