WILLS AND BEQUESTS
Why
Having a Will is an important step for every family. We all desire to be good stewards of our possessions now. In a similar way we can be good stewards of our estate after we die.
A Will clearly states your intentions or what you want done with your wealth after you die. Failure to prepare a Will means your wealth will be distributed according to the laws of the country which may not follow your specific wishes.
This legal document Will also ensure that your wishes are carried out in relation to any support you may wish to give to others outside your immediate family including churches and charities such as World Outreach.
When
It is wise for every adult to have a Will prepared. While no one likes to contemplate death it is a reality that must be considered; Voting is recommended as the time to prepare your first Will. Note however that a Will is automatically revoked by your subsequent marriage.
People often like to make contributions from their estate after they die. Their bequest or gift needs to be included in the Will for it to happen, it is reassuring to know that a share of your estate can go to the support missionary work after expenses and other distributions have been made. With inflation we recommend you state a percentage rather than a specified lump sum.
Where
For some, the question of where to allocate funds can be confusing. The following steps are a guide to assist you in the process.
- A statement needs to be made regarding payment of just debts, funeral, monumental and testamentary expenses, and any duties payable in connection with the estate.
- Prepare for ongoing support for your spouse and children in the event that you pre-decease them.
- Then give though to further bequests to specific people, projects or charities.
- Consider where to allocate any remaining portion of the estate after all the expenses and specified bequests have been made.
How
Self help Will kits are available from most newsagents or Post Offices which you can complete by yourself. These are generally not recommended.
World Outreach recommends that when you make a Will or make changes to an existing Will that you contact your Solicitor, legal advisor or the Public Trust Office or its equivalent in your own country.
To nominate World Outreach as a beneficiary of your estate contact the WOI
National office nearest you.
NOTE: World Outreach is a Non-Denominational Missions Agency and is not qualified to give legal or financial advice.
