Will And Definition Of My Estate

[Bumfluff]

Hi,

I've just had a Will done and have been sent it for review. I mentioned at the time to the people doing the Will about my ltd company and whether it should be specifically mentioned regarding transfer of shares if I were to die so someone could control the ltd, but they said I didn't need it, what have others done ? In the Will the definition of what my estate is as follows,

a. All my property of every kind wherever situate.

b. All my property of every kind wherever situate over which I have general power of appointment.

c. The money investments and property from time to time representing all such.

Do you think the above is sufficient, term (b) looks like it would cover the ltd ?

Cheers

[malvolio]

The company is owned by its shareholders. If you own the shares, they're part of your estate. If you don't, they aren't. Can't see the problem, myself.

[SueEllen]

You don't need to specifically mention it unless you have a desire to split your Will up so different items including money, investments and property go to different beneficiaries.

If you do then you are just making life more complicated for your executors, who would then be more inclined to appoint a solicitor to oversea matters which means your beneficiaries would ultimately lose out as the money for sorting out things like that comes from the estate.

The only thing you should do when you get your Will back is put a list in the envelope with it of what things you do own and keep it updated.This will make your executors life much easier.