When an estate appears to have more debts than assets, it’s understandable to wonder why anyone would take on the task of administering it. While finalising the deceased’s affairs is an important reason, there are also several benefits to doing so.
Testamentary Capacity is the standard required of a person wanting to make a Will. The Willmaker must be able to demonstrate they can understand the document being created, its effects, the extent of their assets and liabilities, and who has the potential claim against their estate.
An Informal Will refers to an estate planning document that does not meet the formal legal requirements for making a valid Will.