Estate Planning can Make Life Easier for Those Who are Left Behind

Accepting the inevitability of death provides persons with the opportunity to ‘get their house in order’, which can be accomplished through a process known as Estate Planning.

Estate planning or estate management involves taking steps to legally document what should happen to a person’s assets upon their passing, most commonly in the form of a will.

Administrator-General and Chief Executive Officer (CEO) of the Administrator-General’s Department (AGD), Stacie-Ann Carty, tells JIS News that in order for a will to be considered valid, it must be in writing, noting that a person giving oral instructions on what should be done with their assets is not legally binding.

“It must be signed by the testator at the end of the will, and that signature must happen in the presence of two witnesses who will also sign. There are only a few exemptions to having a written will, unless you’re maybe someone in the army at war. But for the vast majority of us, our oral culture does not stand. It must be in writing. As simple as it is, you’ll be surprised that persons still don’t make a will,” she says.

The AGD administers the estates of persons who die intestate, that is, without a will, and currently has a property portfolio of more than 3,800 properties islandwide, with an estimated value of $50 billion.

Mrs. Carty says there is a general misunderstanding about how easy it can be to put a will in place, highlighting the availability of pre-written will templates for purchase in places such as pharmacies and convenience stores.

“In Jamaica, it’s legally quite simple. We have in-store will forms and those kinds of things that are adequate in giving you a head start on your estate plan. You will see on the form that it says, ‘this is my last will and testament’. So, they are in the pharmacies to some degree and it is on our website for you to get a will form with instructions. It’s something you can do for free,” says Mrs. Carty

There are also other steps that can be taken towards proper estate planning outside of a will, including life insurance policies.

“If you had a life insurance policy, you could name somebody as a beneficiary of the life insurance policy, so when you die they would just go straight to the insurance company, give them the documents that they require, and then the payments will be made directly to that person or persons,” Mrs. Carty points out.

The Administrator-General also recommends that persons have the name of someone they trust on their bank account, so in the event that they die, this will ensure that the funds can be accessed immediately without the need for any legal proceedings, such as probate.

The AGD will, this year, spearhead a national public education campaign to educate Jamaicans about these estate management processes and spread the word about its services.

“What happens if somebody dies and you don’t have any money to bury them, but they have money in their bank account? How can you access it to bury the person? What happens if it is that a gentleman is married and has a wife and children, but has other children that are not the spouse’s children, and he dies? Will they get anything? These are things that you need to think about; what the law says and how people can benefit from our services,” says Mrs. Carty.

She adds that the public education campaign will target persons of all age groups, including children and youth, who oftentimes end up in the middle of family disputes over ‘dead lef’.

“[It] doesn’t only affect older people; even a little child has to know what his or her rights are as well. Your father, your mother dies, what do you do? How are your school fees going to be paid? They have money in a bank account. They have a property. Who is going to rent it? Who’s going to call in the rental? Who’s going to give you lunch money and monthly maintenance and that kind of thing? So, we want the kids to know what their rights are,” says the Administrator-General.

For more information on estate planning and to access a free will form, persons may visit www.agd.gov.jm or visit the AGD’s two offices in downtown Kingston at 12 Ocean Boulevard and in Montego Bay, on the 2nd Floor, NHT Building at 42B Union Street.

Persons can also call (876) 922-1830-3 or (876) 922-0700-5.