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Question
Posted by: Leonie | 2004/11/05

IS A WIIL REQUIRED IF U ARE MARRIED IN COP

Please advise, me and hubby have a lot of assets but we are missing a will, but we are married in COP

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Our expert says:
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Not my expertise, and it sounds as if you need to speak to a lawyer. Surely, however, you need a will anyway. If something happened to BOTH of you, you need clarity about what should then happen to your assets. Liza's point, too, is good about avoiding, for either of you, the problems that can arise in the absence of a will, with the freezing of acounts, while the process which then takes longer, gets settled legally.
And a will doesn't cost much, so why would he want to avoid having one ?

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Our users say:
Posted by: Lucia | 2004/11/08

Leonie

You can also state in your will what's to happen with the kids should both of you pass away - you need to discuss this with your hubby and make a decision.

You need to make your husband realise that should something happen to you guys and there is no will, your children will be left destitue and the government will take all your assest which both of you have worked so hard for. Sometimes people do not wish to discuss matters like this - thinking, why worry about death at such an early age - will tend to it later - big mistake! Bad things happen everyday - does he really want to take the chance and leave the kids destitute ? Don't think so.

Reply to Lucia
Posted by: Leonie | 2004/11/05

His famous line is "we are married in COP and we do not really need a will" my question is always if we die, what happens to our kids, who will take them cos both families will end up fighting.

Reply to Leonie
Posted by: Leonie | 2004/11/05

thanks lucia , sounds really scary i have two kids 4 years and 1 year

Reply to Leonie
Posted by: Lucia | 2004/11/05

Hi Leonie

You do not mention whether you have any chidren. In the event of you both passing away at the same time and there is no will, the government will attach all assets (monies included) and they will appoint a trustee to distribute it how they see fit - any Tom Dick or Harry that then institutes a claim against your assests will be accommodated.

The chances of you assest ever reaching any depandants or those whom who would have preffered to end up with your assests is fairly slim. The same applies if you husband passes away before you and there is no will. You will have absolutely no say whatsoever in the matter of the distribution of your joint assets - scary thought.

Do a google search on last+testament+will. There are many examples of how to draw up a "joint will" as required in your case. The rules and regulations (as required by law) is also on these pages and should give you the guidelines on how to go about doing it properly. You do not need to spend hundreds to draw up a will. Just remember that those that draw up the will i.e. you and your husband, may not counter sign as witnesses - it will be declared nul and void. Get two outside parties to sign the will (in your presence - very important) and store them in a safe place - a place of which you need to tell someone about e.g. a friend or relative because if in the event of your deaths, and will can't be found, once again the government will step in and take over.

Reply to Lucia
Posted by: Leonie | 2004/11/05

Thanks u everyone ill bring up this topic again tonight

Reply to Leonie
Posted by: Beyond Tired | 2004/11/05

Hi there,
My father did not have a will when he died, his wife and he were married COP as well, it was an extremely tiring and difficult time for my stepmom and it took very long to sort out, due to her kids and my sister not understanding that she had worked her entire life for the little she had and I felt we had no right to take a thing, only what she wanted to give. My Dad had no policies, only his pension but she lost most of that to the payment of their property because there was no policy covering it. I suggest you draw up a will, no matter what, remember there will be problems if there isn't one, assets are frozen, bank accounts frozen and because you are COP yours/his will be frozen as well.
Good luck/Take Care

Reply to Beyond Tired
Posted by: Leonie | 2004/11/05

this has become a very sensitive topic im even scared of discussing it with him we have 3 business and 4 cars and i think really with those types of asses we really need one.

Reply to Leonie
Posted by: Liza | 2004/11/05

Just remind him that most of the time, accounts etc. get frozen when a person dies - this will mean lots of hardship for you, should he die. A will should be able to make provision should something like this happen.

Reply to Liza
Posted by: Leonie | 2004/11/05

Hubby does not c the need for one and i really want one,even if i dont get everything so that i can just know what is coming to me

Reply to Leonie
Posted by: Mooh | 2004/11/05

Hi Leonie

Just have one in case so that is can reinforce what you both know

Good luck

Mooh

Reply to Mooh

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