When it comes to estate planning, a well-drafted will is a vital document. A comprehensive will not only protects your assets but also provides peace of mind for your loved ones — ensuring your wishes are honoured and your family is spared unnecessary emotional and financial burdens as well as conflict.

A will should do more than simply name who gets what. It should anticipate real-world challenges, provide clarity for your wishes, and make the administration process easier for loved ones. Here are a few key elements to consider when crafting a will.

Choosing the Right Executor

The executor of a will carries significant responsibility. This individual ensures your wishes are carried out, debts are paid, and assets are distributed according to your instructions. Selecting a trustworthy and capable person is critical. For larger or more complex estates, a corporate executor may be beneficial. A corporate executor is a professional organisation such as a trust company, bank, or other financial institution, that is appointed to administer the estate and can provide continuity, impartiality, and professional oversight to the administration process.

Describing Assets and Beneficiaries Clearly

One of the most common causes of family disputes after someone’s passing is vague or incomplete descriptions of assets and beneficiaries. To avoid confusion, your will should list assets in detail and name beneficiaries precisely. Whether it’s property, investments, or sentimental heirlooms, specificity ensures that your assets are identifiable, and intentions are honoured.

Guardianship and Care for Minors

For parents, perhaps the most important provision in a will is naming a guardian for minor children. Without this, the decision may be left to the courts, potentially leading to outcomes you would not have chosen. A will also allows you to appoint a trustee to manage funds or assets for children to assist in protecting their future until they are capable of managing it themselves and for dependents such as elderly parents who may need special care.

Including a Residue Clause

No matter how carefully you plan, it is prudent to include a residue clause. This clause serves as a “safety net”, capturing anything not specifically listed in your will. This prevents assets from being unintentionally excluded and subject to the laws of intestacy and ensures they are directed to the people or organisations you want to benefit.

Practical Distributions

While it’s natural to want to include conditions for how assets should be used, overly complicated or unrealistic requirements can cause difficulties with the administration of your estate. If instructions are too onerous, executors may struggle to carry them out, or beneficiaries may find them impossible to fulfill. The most effective wills strike a balance between honouring your wishes and being practical.

A comprehensive will is more than a legal formality — it is a powerful tool for protecting your loved ones and securing your legacy. When beginning the process of crafting your will, be sure to seek advice from an attorney who can guide you through the various aspects of estate planning.

Kandi Chin is an associate at Myers, Fletcher & Gordon in the Property & Estates Department. She can be contacted via Kandi.Chin@mfg.com.jm or myersfletcher.com. This article is for informational purposes only and does not constitute legal advice.