Simple Will – Residuary Clause

Met a friend few days ago for a casual coffee and discussed about preparation of his Will.

It is true that Will can be very simple, but we still need to give enough consideration to details.

Residuary Clause

This is a clause that addresses what ever our estate not mentioned specifically in our Will. It also addresses asset that we may acquire after we have prepared our Will. But we would like to highlight the following 2 conditions:

  1. The transferability to our beneficiaries. Example – movable asset like car, can we actually equally distribute to our beneficiaries? Can one vehicle being registered to 2 owners?
  2. I will say this is classical example. 2 acres of Agricultural Land distributed to 5 siblings. Technically each own 1/5 of the 2 acres. The problem arises when one group want to sell the land while the other group want to hold it longer. Can it be subdivided?

When one part of the Will cannot be executed, there will be difficulties in executing the whole Will.

Yes, we do provide Estate Planning service. Feel free to contact us for appointment.

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