Property Law Essay Example | Topics and Well Written Essays - 1250 words - 1

Property Law - Essay Example However, in due course the differentiation between a will and a testament has become thin, and people use the term, will, to refer to a statement that both disposes of both personal property and real property. In the event an individual dies without drafting a will, the state proceeds to distribute the person’s estate in accordance with the laws of Descent and Distribution of the person’s stateii. The significance of a will is diverse from the fact that it gives the drafter a chance to choose the people who will be heirs to his property. It also allows the testator to decide the people who will execute their estate, and using fairness in distributing their wealth, in place of the court appointing a stranger to allocate the estate to the family. Another importance of a will is the fact that the testator can protect the interests of the people close to him, and those of his children in choosing who their guardian would be in the event of the testator’s death. When writing a will the law requires the testator give information as to who will take care of their children incase the stated guard dies before the execution of the will. This may include the other benefactors of the will in the event they die before the execution of the will. ... Requirements for a Will to be Valid The first requirement is that the testator, the person making the will must declare himself as the testator and that he revokes any previous will either express or impliediii. The person should also have the mental capacity to make a valid will at the time of drafting of the will. The person making the will to be accepted by the law as making a valid will through mental capability must be at least 18 years and above, bar for any exceptions provided for by law. Another indication of whether the person has the capacity to make a valid will is that they ought to be of sound mind, understanding, and memory. This is to mean that the person ought to be aware of what they are writing and its implications. It is essential to note that the Mental Capacity Act of 2005 does not have provisions for invalidating a will; that has already been prepared by an individual of unsound mind. There is normally the assumption of intention, in that if a will is validly ex ecuted and the person is of sound mind during the process of execution. This is the third requirement of a valid will; that the testator must have an intention to dispose of their properly as per the will upon the testator’s death. The third requirement is that there should be no traces of undue influence, force and/or fraud. If the court can establish that the testator was either pressured into making the will, or if the execution of the will was through fraudulent means, then it may set aside part of the will, or will in its entiretyiv. It is mandatory for the testator to sign the will or have someone sign it for them; the will must not be necessarily in writing. In most