The Star: March 22, 2018

4 law/puzzles
Many people put off making a Will – it’s
almost as if making a Will acknowledges
one’s own mortality! But if you die without
a properly made Will, you are said to
have died intestate and your estate will be
settled according to the provisions of the
Administration Act (“the Act”). Under
the provisions of the Act your estate will
be divided in set proportions amongst
your surviving spouse, children and/
or immediate family. Almost inevitably
the result is that your estate
is divided in a manner
different from how you
would have wished. On
the other hand, if you
have made a Will,
you can relax in the
comfort of knowing
that your affairs will
be administered in
accordance with your
wishes.
As well as dealing with
your property, your Will can
also be used to give directions as to
your preference for burial or cremation
and the type of funeral you desire. If you
have young children, you should always
take the opportunity to appoint a guardian
to represent their interests in the event of
your sudden death.
If you have a child with special needs
and it would be inadvisable for him or
her to receive a direct cash payment
from your estate, it is possible to set up a
Testamentary Trust in your Will, to ensure
that the child’s needs are met during their
lifetime. Upon their death, the remainder
of the capital and interest of the Trust can
to wILL oR
not to Will?
then be divided among other beneficiaries.
Similarly, people will often choose to
leave their surviving spouse a life interest
only in their share of a house property or
other investments, so that they enjoy the
use of the asset (or the income from it)
during the remainder of their lifetime, but
on their death, the capital is passed to the
children of the relationship. This can suit
second or subsequent relationships and
can have the additional benefit of
the surviving spouse having
fewer assets in their name
if they are later asset
tested for eligibility
for a subsidy.
Even if you have a
Will, don’t forget that
it is a document that
needs to be reviewed
from time to time
as your circumstances
change. A good rule of
thumb is to review every five
years, or if something significant happens
in the meantime. There are certain events
that make it absolutely essential to update
your Will. For example, if you marry
or remarry your Will is automatically
revoked, unless it was made in
contemplation of that marriage. Likewise,
if your relationship comes to an end or
your marriage is dissolved, or if you have
wound up your Family Trust your Will
should be reviewed.
Give Phillipa Shaw a call on 352-2293 to
arrange an appointment to discuss how a
new Will would be of benefit to you.
EXERCISE the mind
SUDOKU - EASY
SUDOKU - MEDiUM
QUiCK CrOSSwOrD SOLUTiOnS On PAGE 6
ACrOSS
1 Curved structure (4)
3 Pre-dinner drink (8)
9 Chewy sweet (7)
10 Composer of La Traviata (5)
11 Mar (5)
12 Lever for turning a rudder (6)
DOwn
1 Forebear (8)
2 Freight (5)
4 Courteous (6)
5 Competitor (5)
6 Underwater projectile (7)
7 Equitable (4)
14 Something strange (6)
16 Pandemonium (6)
19 Three-legged stand (6)
21 Confronted (5)
24 Proclamation (5)
25 Chivalrous, dashing (7)
26 roasting (anag.) (8)
27 Aspersion (4)
8 Charm (6)
13 One to whom money is owed (8)
15 Beloved (7)
17 nonsense (6)
18 Proverbs (6)
20 Donned (3,2)
22 Swimming stroke (5)
23 nil (4)
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