In an earlier post, we discussed the importance of planning our property for the benefit of our loved ones. We mentioned that having a will was one of the best ways to plan our property. You can read this article by tapping on this link -> https://wawerumacharialaw.co.ke/2022/04/20/securing-your-familys-future-by-planning-your-wealth/
A will is a legally binding document or legally binding spoken words that state how one wishes their property be distributed upon their death.
A will is one of the ways we can care for our families' lives even after we pass away. The big question, however, is this. Why is a will so important?
- A will specifically dictates what property and how much of that property you want to go to whom.
- A will offers your family peace of mind. They mourn their loss in peace and are not distracted by rising debts and bills.
You are here because you are curious about the concept of wills in estate planning. I am here to calm your worries and tell you what you need to know on this subject.
First things first, there are 2 kinds of wills; Oral/Spoken Wills and Written Wills. In this article we will focus on oral/spoken wills.
Here is how to make an Oral/Spoken Will ;
- It should be said before 2 or more competent people. These people should be above the age of 18 years, be of sound mind and not under the influence of any drug.
- The person making it should have passed away within 3 months of making the oral will.This sounds odd. Let me explain;
- Oral/Spoken wills are usually made by people who are really old or are really sick and feel themselves getting weaker and weaker.
- It sounds bad but most people who prefer this kind of will just want to prepare their families and plan for their futures. This will be hard to understand because of the sensitive nature of death of a loved one.
- Despite this the bigger question is this- would you want to leave your family prepared or unprepared?
- Rule Number 2 does not apply to members of the armed forces or merchant marines in active service.
- If the person who made the oral will passes away, an oral will not be valid if the competent witnesses do not agree on what the person said on distribution of property. The rule of thumb is this -> Have 3 competent witnesses, or an odd number of witnesses( 3, 5, 7 etc).
- Why is this the case? This is because when 2 people do not agree, the 3rd person will be the tie-breaker. Without a tie-breaker, the oral will cannot be functional in estate planning.
- An oral is invalid if it is different to a written will. An oral will cannot invalidate a written will. The written will has to be revoked first for the oral will to be functional.
In addition to this, the most important thing you must always do is this: Talk to a Lawyer before making any decisions on estate planning.
Here at Waweru Macharia & Company Advocates, we have been helping clients with estate planning for more than 20 years and we are happy to help you through this process. Book a consultation with us for more. The details are on this website.
