Highlighted Insights
What Is a Will?
A testamentary declaration under the Law of Succession Act, only effective upon death, expressing how one’s property will be distributed.
Key Characteristics:
Takes effect after death.
Revocable during lifetime.
Covers future-acquired property (ambulatory).
Does not restrict property use during lifetime.
Advantages of Making a Will:
Prevents disputes by clearly identifying heirs and beneficiaries.
Allows testators to appoint executors of their choice.
Provides for non-family members or friends.
Enables parents to appoint guardians for minor children.
Ensures burial wishes and body disposition preferences are respected.
Practical Importance:
Executors can act immediately, unlike administrators under intestacy, ensuring smooth estate management.
Key Takeaway: A will gives peace of mind, control over assets, and protects family members from uncertainty.