A will is a document that states who gets your property upon your death and who will manage your estate. It is probably the most important document that you will ever sign.
You may be saying “bwai mi too young fi dat” or “I don’t own much” but here are a few points on why you should make a will:
1. Once you own something that has a monetary value, you need to write your will. The asset must be fully described to allow for it to be easily identified. For example, instead of saying “my car”, you can describe it as “my 2016 red Toyota Corolla Motor Car Licence No. 1234 DQ”.
2. Your assets (all that you own) will be divided among your loved ones according to your wishes.
3. Proper provisions can be made for your dependents by establishing a trust to provide for schooling and other expenses.
4. You can express your wishes about your funeral, burial or cremation
5. If you are remarried, it is crucial that you prepare and execute a new will. A will is revoked by the subsequent marriage of the testator.
6. Shorter turnaround time for the administration of your estate.
Abi-Gaye White-Thomas B.A., LL.B (Hons)