Components Of A Will – More On Gifts In A Will
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Want to make a start on your will?
Making a Will is not about wealth it is about making sure that what you want to happen to your estate does happen. It gives you the opportunity to specify such things as who will administer your estate, who will care for your children and who will receive specific items of your property.
If you wish the gift to be given to the child’s parents it is important to protect your executors by giving them authority to accept a receipt and to say that they are not liable for seeing how the money is spent.You do not want the child to come back to your executors many years later and complain that they gave his money to his parents who promptly spent it on a foreign holiday.
A pecuniary legacy may also be referred to as a general legacy.
For more information on – Components Of A Will – Demonstrative Legacies or Components Of A Will – Beneficiaries
- external sites: Will-writing should be reserved, super-regulator recommends , The Law Gazette