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How Old Can You Be To Make a Will.

How Old Can You Be To Make a Will.

This may sound bizare for most young people to think about writing a will. Most young people do not have wordly possessions to pass on to someone in the unfortunate event of their demise and to many people this would sound a little off to even suggest writing one.

However there are millennials in this world that have made more money than the average person has made in their life time, would most probably need to secure their assets, from Fornite Gaming, to Bitcoin Millionaires . Or it could be an inheritance where by a wealthy young person may decide to name people that could potentially benefit from their wealth in the unfortunate event of their passing.

One can never be too careful in this day and age, with fast cars, bio-warfare and AI anything could potentially happen, hence it is better to be safe than sorry and getting ones finances in order is imperative especailly if you have large amounts of equity or perceived equity, from buying, stocks and shares, property and land to name a few.

Therefore a young person must be at least 18 years old to make a Will, unless you are a solider on active duty or a sailor at sea, in which case you can be any age.

Who Can Make a Will?

To make a Will in England or Wales you must:

  • Be aged 18 or over.
  • Have ‘sound testamentary capacity’ (Sound Mind).

In certain circumstance there are actually two situations in which people under the age of 18 can be legally allowed to make a Will – if they are working for the ‘Ministry Of Defence’ as Soldiers on active duty, or they are MOD Sailors at sea. In these cases where persons have joined the establishment they are usually signed up as young as 16 yrs of age. Hence a young person is able to make a will even if they’re under the age of 18.

The law came into force in 1918, the year World War 1 came to an end. The law is intended to reflect the fact that young people can be placed in dangerous situations during the course of active duty serving the MOD and so should have the opportunity to record their wishes, if they were killed in action.

There is no upper age restrictions when making a Will, but you must be of ‘sound testamentary capacity’ (Sound Mind and have no mental issues, whereby they are incapable of making a decision themselves). This means that at the moment you sign your Will, you:

  • Understand that you are giving your assets to your beneficiaries
  • Understand and know the extent of your ‘Estate’, which is the collective term for everything you own
  • Understand the implications of including certain people as beneficiaries, and the implications of excluding certain people from the Will
  • Must not be influenced into making decisions that you would not have made, had you been of ‘sound mind’

The definition of a ‘sound testamentary capacity’ means that you are mentally capable of understanding what you are doing and the implications of signing your Will. However if the mental capacity of someone is in question, advice should be sought from a medical practitioner.

If you’re making a Will and you think your mental capacity could be called into question, you should ask at least one medical practitioner to act a witness. This will make it harder for anyone to say that you weren’t of sound mind when you made your Will.

Too Young to Make a Will?

Many people feel like they are too young to make a Will, and that they only need to think about it when they reach a ripe old age. However, making a Will isn’t something you should put off, and people of all ages should be encouraged to make one, even if they do not possess wordly estates at the time, they may acquire value over the years, however in years to come they may be to busy working to even have time to consider the implications if they did not have a will in place.

Never take a will for granted.

Again the benefits of writing a will when you are young is based on the fact you are of sound mind when making a Will. None of us knows what is waiting for us or round the corner, and more and more of us are developing conditions that could affect our minds. Therefore if you find yourself in a situation where your mental capacity has been adversely affected by illness, accident or injury, meaning you are not legally able to make a Will anymore and by that time it will be more difficult to secure your testament and make sure the people that you wish to make your will to will be compensated according to your wishes.

There are also life events that can cause us to secure a will especially if you have a family and you need to protect them should something happen to you. This is especially important if you have insurance. Most insurance companues will pay out in the event of sudden death and you have to make sure the people you wish to take control of your assets are aware of your wishes. You need to read the fine print to see what will be paid out and when and make sure people know who your power of attorney is, this could be a solicitors office or a bank or even an appointed person no relation to you.

It is especially important to make a Will at certain times in our life that are changing milestones in life, many of which will happen in your younger years. For instance, when you start a family, a Will allows you to say who should be their Legal Guardian if you die and the other parent has previously passed away. If you don’t appoint a Legal Guardian then it may end up being decided by the Courts and your child could end up a ward of court and put into care.

Other important life milestones that should prompt you into making or updating a Will include:

  • Buying a house – so that you can set out who should inherit your share of the property or land.
  • Getting married – because marriage invalidates any previous Wills that has been made as a legal partner also has rights to your estate.
  • Starting a family, having a child.
  • Getting divorced – making sure that should you divorce there is a clause to say how your Estate will be distributed and who will be entitled to the inheritance and the impact it may have on an existing Will.

Writing a Will & Wish Letter.

Cardiff Probate Solicitors – Writing a Will and Wish Letter.

Last Will & Testament & Letter of Wishes.

It is never too early to write a will and there is no time like the present. We never know what is waiting for us round the corner. With more than 500,000 predicted deaths in the UK looming over our heads with the Covid-19 virus, it is better to be safe than sorry. Your last wishes will benefit your loved ones should anything happen to you. It also helps with the distribution of your estate and finances.

Your Wishes in a Letter.

Along side your last your will and testament you should have a letter of wishes, this is a more indepth and sometime a very private affair meant for specific family members. Although it is not legal and binding unless you include as part of your will. The wish letter should provide your wishes for the people dealing with your estate and/or any trusts that are to be set up after you pass away. The letter should be about specific matters that are private and often sensitive. It informs your executors, trustees and/or family of your estate, your wishes and how you would like them to executed.

A Will should not be confused with a Wish Letter. A Will is a Public Document if the Will goes to Probate, whereby it goes through a judicial process of the court of law that accepts it as a valid Last Testament of the deceased. On the contrary the letter of wishes remains confidential to the executors, trustees or family members and is not a matter for the courts. Therefore is usually contain more specific details of one’s family and affairs.

It is ideal to write the letter in Plain English, and Sign and Date it. This letter does not have to have witnesses. It should just state at the beginning you are of sound mind followed by your wishes.

How should I write a letter of wishes?

The sole purpose of the wish letter is to be a supplement to the will and support the executors of your estate. The Wish letter should not have anything that can contradict your Will. The Wish letter should emphasise how you wish your remains to be disposed of i,e cremated, buried or sent to outer space (yes this is possible, you can even be frozen part or whole including your brain or made into a diamond, whatever you prefer, but that is for another post which I may write about). If you have personal items that specific members of your family should have you should state it in the letter. If say you have left money in a trust fund you may want this family member to hear your wishes privately. This could be something on the lines like the teenager that comes of age and should not squander the money on wild parties but invest the money wisely and should not give it to any other family member.

The advantage of such a letter is that it can be updated it to reflect any changes in your circumstances. It may be that you are monitoring the behaviour of a family member and are undecisive whether to leave a trust fund for that individual if they are not responsible enough. Executors should know your intentions which will help them when exercising their powers.

Examples of Wish Letters and what may be written are as follows:

  • Who should be informed in the event of your death, or in some cases, who not be notified.
  • Your funeral wishes whether you want to be made into a sparkly diamond, planted and your ashes buried in the soil with the sapling of oak tree or simply buried or cremated and any specific instructions about the service, such as should everone wear black and should they mourn your death or celebrate the memories they have of you and the life you had. You can be specific like having your ashes buried in woodland or scattered on a favourite beach. You may want specific music and venue to hold your wake.
  • Your Wishes of how you would like your personal items donated and to whom, such as family heirlooms, ornaments, art, jewellery, furniture, and photographs and stamp collections.
  • If you are leaving trusts for the beneficiaries you can state specific things they must do in order to fullfill your wishes, this can be that they may have to execute certain tasks before they are entitled to any payments of which they can forfeit their claim to the estate if they do not do as you wish.
  • If say you are a parent with young children which you have left behind you may want to let the guardians know your wishes on how to bring up your children. Your wishes can include faiths and education.
  • You should also explain your decisuon why you have excluded anyone from your last will and testament especially so if someone wishes to contest your will in future.

A Wish Letter is Important Because?

It is very important that the executors and/or trustees know how to execute your wishes. The executors and/or trustees need to know your intentions and how you would like them to take care of your finances and assets.

For example:

  • If you have children you are leaving your assets and funds to, it is a necessity to write down your wishes in preparation for when the childen reach the age to claim their trusts and funds.
  • You may have personal reasons to delay a person’s inheritance for whatever reason and you should write this down clearly so that there are no misunderstandings further down the line.
  • You should also explain implications of inheritance tax and also the tax benefits for investment purposes.

When is it the right time to write a letter of wishes?

There is no time like the present to wite down your wishes, like I said before tomorrow is not guaranteed. Writing your last will and testament should also coincide in your letter of wishes. You should remember that you need to avoid any misundertandings, keep everything clear and specific and not duplicate or contradict yourself in what you have witten in your Last Will and Testament.

With the instructions of contacting all instituations, organizations, governing bodies and banks and giving all access to your personal accounts including usernames, passwords etc and all contact details. It is very important to keep all the documents in a safe place not easily reachable but secure. If you appoint a solicitor as the executor he/she can keep your documents in a secure place for you. You can even hire safe deposit boxes in banks or buy yourself a safe and keep the key with you at all times. You should update your wish letter and on a regular basis for example every year to be on the safe side and be sure you have updated any changes in your own personal circumstances aswell as your children’s. As your children get older get older you may want them to go to a specific school or college, you may want them to travel and encourage them to do so. Lots of different scenarios and all personal to you.

When writing a letter of wishes do I need to appoint a solicitor?

The answer to this question is no, as this is personal to you.

Writing a Wish Letter enable you to write specific instructions where for example you may not want “Aunty Mable” interfering in your family affairs or your children’s upbring or you may be against certain faiths or organizations that you do not want your children to be involved in.

Your own words should be sufficient although a solicitors experience and expertise in writing Last Wills & Testaments aswell as running and administering trusts can give you the support you may need in cases where delicate issues may arise. If you are unsure you can always run a draft copy by your solicitor so that he she can look through it and advise you and help you ammend anything that may need addressing.

Useful Probate Preparation Podcast – What to do When Making Your Will.

LAST WILL & TESTAMENT PROBATE PREPERATION,

Death is never an easy subject to talk about, yet one needs to be prepared.

It is always good to prepare your estate ready for execution so that if the inevitable should happen, your loved ones can sort out your finances with ease.

If you do not have anyone you can appoint, you can hire an executor, which can be your solicitor.

Listen to this Podcast from a New York Lawyer who explains in Laymans Terms, how to sort out your Last will and Testament.

You need to be a patient and the Lawyer will start talking after the intro which is appoximately aorund 04.28 minutes into the recording, you can fast forward to this point.

Get into the habit of backing up usernames and passwords on a regular basis on paper, also write down which companies need to be notified and make sure to update your account data and their contact details.

Let your loved ones know should anything happen to you, were they can find this information and keep everything stored together in a safe place.

You can read the whole article here: https://domainnamewire.com/2020/03/02/death-and-domains-dnw-podcast-275/

Obviously the law is a different from Country to Country but most of it is common sense and has similarities. Do check the Law for England & Wales. Ask for a no obligation free consultation by emailing info@duddenlaw.co.uk

Do Remember to go through the checklist below:

  1. Make sure the will of the deceased can be found easily and verified to be legal, go to a solicitors to have it verified.
  2. When preparing your last will and testament have witnesses that can verify the will, your local solicitors office can do this for you.
  3. As the executor get several copies of the death certificate as certain institutions, authorities and organizations will need them for verification. Even trying to shut down social media sites may need this document for authenticity.
  4. Appoint an executor or personal representative (This can be a solicitor)
  5. Make sure an executor or personal representative is reachable ( Sometimes people move away or die, keep in contact with the person).
  6. Notify all Utility Companies.
  7. The executor needs to contact all banks of the deceased and notify all credit card companies. Banks will freeze all assets until the probate process has begun.
  8. Probate bonds are posted
  9. Receive Letters of Administration from the court
  10. Make sure all Assets are located and protected
  11. Assets are appraised
  12. Publish notice to creditors
  13. The decedent’s debts are paid off
  14. Tax returns are prepared and filed
  15. Remaining assets are distributed according to the will
  16. In the case of executing the will make sure all social media accounts are notified and third party subscription sites.

***Sorting out someone else affairs can be very complicated and distressing. It always better to be prepared including finalizing funeral arrangements etc. Do research life insurance to cover funeral costs.

Probate sub-registries close offices across England and Wales

Probate Offices

As part of Government over spending more than 20 offices around England and Wales have been shut down. Solicitors around the country are complaining about delays in the probate system since a computer glitch last year. People who have questions should contact the Birmingham Courts and Tribunal Service Centre which will deal with all enquiries.

You can read the full article here: https://www.lawgazette.co.uk/news/probate-sub-registries-close-their-doors-across-england-and-wales/5102921.article

Cyber Criminals – Domain Name Theft

Cyber Criminals.

What is more dangerous than physical war?

What comes to mind Cyber Warfare, Biological Warfare and Ideological Warfare.

Cyber Warfare is associated with nation-state or international organization to attack and attempt to damage another nation’s computers or information networks through, for example, computer viruses or denial-of-service attacks.

Physical War is a milatary war engage in loss of life and extensive damage for however to land property or citizens which can run for many years. However once the war is over countries, cities, and nations can pick themselves up, rebuild, and start again.

Ideological War on the other hand is a war that plants mental seeds of constant fear into the hearts and minds of the public. No one knows when or if the enemy will strike and make the ideological war into a physical one.

Biological Warfare (BW)—also known as Germ Warfare—is the use of biological toxins or infectious agents such as bacteria, viruses, insects, and fungi with the intent to kill or incapacitate humans, animals or plants as an act of war. (Coronavirus (COVID-19) – NHS). This can be done by drones infecting targeted areas.

So with what we are up against we the business owners and citizens of this world should take more care.

The Coronavirus (COVID-19) for example is a matter for debate but businesses are being effected by the mass closures of trade around the world, never mind the people that have died from this virus already and it seems to be spreading with cases announced in Wales UK.

So you would think if a person that suspected they were infected would isolate themselves, yet we do not think outside the box most of the time and usually turn a blind eye or say it will not happen to us or “Que Sera Sera” as Doris Day once sang.

The same goes for cyber crime, most of us are compalcent and we cross the bridge when we come to it.

So it is without suprize that a lawsuit for a domain name (www.pay.io) is underway, with allegations that it was stolen and the plantiff did not realize for 7 years that the said domain name had moved to another registrar after 4 years of it being acquired by the plantiff. With two and three way verifications one would think that even the astute hacker would have trouble stealing your credentials and assets.

You can read the full article here: https://domainnamewire.com/2020/02/25/pay-io/

Be safe readers and always take precautions, whether it is your health or your finances, always put safety measure in place.

Ethos adds legally-binding provisions to try to save .Org deal

DOT ORG DOMAIN EXTENSION
Dot Org Domain Name Extension

Dot Org in the news. As most us know, dot org domain extensions were mainly for non profit organizations. The domain name org is a generic top-level domain (gTLD) of the Domain Name System (DNS) used in the Internet. The name is truncated from organization. It was one of the original domains established in 1985, and has been operated by the Public Interest Registry since 2003. The domain was originally intended for non-profit entities, but this restriction was removed in August 2019. The domain is commonly used by schools, open-source projects, and communities, but also by some for-profit entities. The number of registered domains in org has increased from fewer than one million in the 1990s, to ten million in 2012, and held steady between ten and eleven million since then.

In November 2019, the Public Interest Registry (PIR) was sold by its initial owner, the Internet Society, to shell company Ethos Capital for US$1.135 billion. The PIR also announced it would abandon its non-profit status to become a B Corporation. However it is not clear if the sale actually went through, as it seems Ethos Capital, the company t is still trying to acquire the .Org registry, so what happened in the short space of time?

You can read the full article here: https://domainnamewire.com/2020/02/21/ethos-adds-legally-binding-provisions-to-try-to-save-org-deal/

Latest UDRP Cases in 2020

UDRP

UDRP Uniform Domain-Name Dispute-Resolution Policy

The latest UDRP Disputes of 2020, From Dead People claiming their names to cybersquatting and reverse hijacking.

My favourite has got to be Pablo Escobar – like who in the right mind would use the domain name and for what purpose?

The name itself should be enough to warn potential investors to stay well clear.

I will post moreUDRP posts as and when they come in.

Here is the list:

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