top of page
Podpis

WHAT IS TESTAMENT/ WILL ?

The word testament comes from Latin, meaning "drawn up in the presence of witnesses." It is a document in which you specify how your property should be distributed after your death and, very importantly, who will take care of your minor children when you are no longer with them. Also, if you want to transfer some of your assets to a partner with whom you are not married, you can indicate this in your will.

Indeed, having a will is not a legal requirement, but it allows, among other things, to shorten inheritance procedures (from several years to several months)

YOUR WILL SHOULD DEFINE:

  • The distribution of your property among your beneficiaries and in what proportions.

  • The appointment of a guardian or guardians to look after your minor children.

  • The appointment of an executor to administer your estate and carry out your wishes after your death.

  • A contingency plan in case your chosen beneficiaries predecease you.

  • The provision for your unmarried partner or anyone who is not your legal spouse to inherit from your estate.

  • The disposition of your shares in a business or other assets that may require special attention.

  • If you wish to donate your assets to a charity, the exact organization or organizations you wish to support.

  • Your funeral wishes, including any specific requests you may have for the ceremony or disposition of your remains.

Rodzina wielopokoleniowa

ROLES IN TESTAMENT

Testator: it is you, the creator of the will

Executors: These are the people you trust to fulfil your wishes and make decisions about your assets when you are gone.               

We recommend that you consider a few points when designating your Executors:

  • Your Executor should be about the same age as you or younger to ensure that you limit the possibility of his death ahead of you. To this end, we recommend siblings, partners, children and friends. Using your parents is risky as they are more likely to die before yours.

  • Consider choosing backup Executors

  • It is advisable to talk to the executors in advance, inform them that they have been selected, and inform them of your intentions. This way, they are prepared to act when the time is right. If you are unsure of your contractor responsibilities, read our guide.

  • The Executor is responsible for caring for all your affairs and keeping your will, so they must be someone you trust.

  • An executor can be the beneficiary of a will but must be 18 years of age or older.

 

Beneficiaries: These are the people you donate your property to. When you submit a will, you will have full control over

whom you leave your assets with. For beneficiaries under the age of 18, you have the right to decide when you want them to take over the estate.

Guardian of minor children: if you are the parent of any of the children under the age of 18 you should specify who will look

after them when they are no longer available. Must be an adult (over 18 years of age). We suggest that when choosing guardians for children, you should follow similar criteria as when choosing Executors of the will.

If you have pets, you can also appoint a pet guardian to look after them after your death.

For a will to be considered valid, it must be signed by you in the presence of two witnesses - their signatures are also necessary because the witnesses certify that you are an adult, fully aware of the content and arrangements contained in the will and sign it voluntarily.

- without compulsion.

The witness should be an adult who will not be the beneficiary or Executor of the will or Guardian of minor children.

 

 

ORDER OF INHERITANCE IN CASE OF NO WILL

based on the Act of Parliament Law of Intestacy of 1925:

1. Spouse
2. Children, if the children have died, they are their children
3. Parents
4. "Thoroughbred" brothers and sisters, if dead - their children
5. Brothers and step-sisters who have one parent in common with the deceased or, if they are dead, their children.
6. Grandparents
7. "Thoroughbred" uncles and aunts or, if they are dead, their children
8. Uncle and step-aunts or their children if they are dead.
9. In the absence of the above or inability to find them, the property will be forfeited to the State - Crown.

It is important to note that laws and regulations related to wills and estates may vary by jurisdiction.

 

It is important to understand that the author and balltica.com provide the information and content in these articles for informational purposes only and that any decisions made by users based on this information are their own responsibility.

The author and balltica.com are not responsible for the completeness, adequacy, accuracy, or timeliness of the information and opinions provided, or for any damages or losses arising in connection with the use of the articles. Users should also be aware that the content of other pages that constitute source material for these articles is not under the author's or balltica.com's control.

Finally, users should be aware that the information contained in these articles does not constitute an offer to sell any products or services.

bottom of page