The last Will and testament is an important Philippine legal document under the civil code that is the only acceptable document in the probate court. It validates your heirs to claim all your properties upon the testator's death.
What Happens if I Die Without Making a Will?
This is when you will recognize the power of a last will and testament. When a person dies without making a will, the decedent's estate is divided among the heirs through the legally binding process of Extrajudicial Settlement of the Estate. This is done by the unanimous decision of the heirs on the methods of dividing the estate. However, when the heirs can not unanimously settle with the same estate plan of division, then there is no Extrajudicial Settlement that is ever going to happen. All estate can only be inherited if going to the court where a will is necessary.
Kinds of Wills
Notarial Will
In a notarial will, there is a certain degree of due process to follow for it to be ruled a valid will.
There should be three credible witnesses in a notarial will. All these witnesses should have no interest in the testator's estate.
The witnesses and the testator should acknowledge the will before a notary public.
The witnesses should sign all the pages of the notarial will. Also, ensure that the testator signs every page of the will.
The testator can have a legal representative sign for them, knowing that the testator is present and by his explicit direction.
Holographic Will
A holographic Will should be written, signed, and dated by the testator. It does not require any witnesses and can be done by the testator alone. It should take no other form than a handwritten one and can be done anywhere, whether you are within or outside of the Philippine territory.
Notarial Will vs. Holographic Will: Which One Is Better?
Knowing the definitions of both of these wills, we can now compare and contrast which one is better.
Holographic Will usually require a sample of the testator's handwriting to confirm its authenticity of it. However, it does not require three witnesses and can be written wherever you may be.
Notarial Will needs three witnesses who have no interest in the testator's estate. If the witnesses do have an interest in the testator's estate, additional witnesses may be asked to be summoned.
Holographic Wills are easier to write since it is private letter does not require witnesses and notarization. However, it might be harder for the heirs to claim their inheritance in probate court. Holographic Will also has its characteristic of being confidential and private, which might be necessary for a testator. On the other hand, a notarial will is more inconvenient as it requires notarization and witnesses, but it is easier to go through the process of probation with this kind of Will. Either kind can be contested during the probation.
Compulsory Heirs
In all kinds of wills, the testator must give their inheritance to their compulsory heirs ( family members such as their legal children and spouse). If the testator does not give any shares of personal property to their compulsory heir without enough legal cause, the entire will be deemed invalid. If the testator's compulsory heirs are minor children, the person who is in charge of handling all inheritance will be their legal guardian.
How To Write a Last Will and Testament in the Philippines
Writing a last will and testament have specific legal parameters that abide by the Philippine law for the probate process to rule it valid. The testator should be mentally capable and of sound mind; they should know their estates and beneficiaries and be aware of what they are doing. The Will also has delimitations where the testator can not exclude their compulsory heir in their own Will without a valid legal cause. Doing so may rule the Will invalid. Writing a will also requires a technical standard to be followed.
When writing a Notarial Will, three credible witnesses should be present along with the testator. The witnesses should not be a beneficiary and have no interest in the testator's wealth. If this is not followed, additional witnesses are required. All witnesses should also sign each and every page of the last Will and testament in the presence of each other. They should sign on the left margin of each page, excluding the last page, where they will sign at the end of the document. It is also essential to do all of this in front of a notary public for the document to be notarized.
Holographic Will, on the other side, is less technical as it does not require notarization and witnesses. It is a purely handwritten legal document, and making other forms of it is rather invalid. It should be written, dated, and signed by the testator whether or not they are inside the country and should follow formalities prescribed by a qualified attorney. Having erasures and alterations will require the signature of the testator. Additional provisions require the testator's signature and date signed at the end to prove that the testator did those.
It is advisable to consult with an estate attorney or a legal counsel to ensure that the Will complements the state law. This will save the beneficiaries in the probate court.
What is probate, exactly? And should I try to avoid it?
The probate process is a court process to ensure that the Will is valid. It will check if they follow the Philippine state's laws and civil code. This process is necessary for the state laws, institutions, and bureaus to transfer the ownership of estates and properties to the respective heirs.
Probate proceedings are filed at a probate court, a faction of the judiciary system governing law that handles the cases of probate processes and inheritance. These are usually filed at a regional trial court of the deceased person's city of permanent address.
When the hearing starts, primary evidence is necessary for the probate process to go smoothly.
In a Holographic Will, an original copy of the Will and the handwriting sample of the testator are required. If the evidence needs to be more specific or more specific, the court may ask for the help of a handwriting specialist in the authentication of handwriting.
In a Notarial Will, the three instrumental witnesses who signed the Will usually testify om the authenticity of the Will.
When a person dies, and someone contests the Will, additional evidence may be requested, and the process will take longer and get more expensive. Probating a living will while the testator is still alive is also possible. This will make probate proceedings easier and less costly since the court can rule on the authentication better. However, the process of transferring estates, digital assets, and properties only takes place once the testator dies.
Should You Write a Last Will and Testament?
Most Filipinos think writing a last will and testament is only for the rich. However, writing one can sort out your way of division on each of your family members. Your own last will determine how to divide all your assets, including your financial accounts, bank account balances, personal finance, and properties. It is the executor's responsibility to have particular instructions on their last Will.
For more information on Vista Residences, email [email protected], follow @VistaResidencesOfficial on Facebook, Twitter, Instagram, and YouTube, or call the Marketing Office at 0999 886 4262 / 0917 582 5167.
-1.jpg)
.jpg)