The assets and money dedicated to these people would go first into your estate. Your designated executor would then move him to trust with the will with rules you have established in your will and will. A will trust remains in effect until a triggering event, called in the will, such as. B a surviving child who turns 21. It is often difficult to determine whether a document is a will or not when it is purportedly effective after death. In general, the law seems reasonably well regulated that if the timing of its execution, the document is legally effective in giving an immediate interest to the property, no matter what the amount, the transaction will not be considered a will. In other words, if the document is intended, and has the effect of the transfer of the property, or the creation of the trust “in practice” (the present), although it must be carried out after the death of the Settlore, it is not testamentary. On the basis of a plan to avoid estate costs and estate obligations relating to his estate, the deceased made duly registered transfers of his real estate, his wife, son and son-in-law as a co-tenant. At the same time, an agreement entitled “Declaration of Confidence” was implemented by all four. At Re Walmsley Estate, 2001 SKQB 105, for example, it was found that an alleged will was not tangible, since the deceased`s will stipulated that the executor could split the estate as he pleased. The Court found that the document did not reveal a genuine intention of will and the Court did not have the power to return a will document, if not otherwise. Sometimes called trusting wills, trust is irrevocable. The Court dismissed the appeal and found that the person who brought it takes effect only after his death and depends on his “strength and effect” of his death is testamentary.
However, if the document creates a gift to Praesenti when it must be made after the donor`s death, it is not dependent on his death because of his “strength and effect”. The documents here, isolated, seemed testamentary, but it was clear that they had life and momentum from the beginning. The documents gave the defendant an interest that, regardless of what happened, has real value. They gave him an immediate interest in the property and they were not wills. In addition to a will, many farmers enter into will contracts in their estate plans. The purpose of these contracts is to ensure that children who farm land on their parents` land will one day be transferred to them. Therefore, in the absence of applicable legislation, the will designations of beneficiaries under various insurance and pension plans may depend in part on whether the person appointing the designation is entitled to personal benefits or is revoked when he revokes the designation in his or her lifetime.” The Court found that, although the deceased had exercised exclusive management of term deposits prior to his death, he did not constitute, in the absence of evidence to the contrary, a gift of common interest, a gift of will or a donatio mortis causa.