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A Will & Testament in Colombo, Sri Lanka refers to a legal document where a person, the testator, expresses their wishes as to how their property is to be distributed at death. It is governed by national laws, specifically The Sri Lankan Law of Succession, Provision for Family, and Dependents Ordinance. The testator may also appoint one or more people to manage his/her estate until its final distribution.
Due to the complexity of the legal terms and procedures, you may need legal help in situations such as writing a Will & Testament document, changing previously written Will, updating the Will & Testament following major life changes like marriage or divorce, and when challenging a Will. An experienced estate planning lawyer can guide you through the entire process and help you avoid potential problems and disputes.
The key aspects of Sri Lankan Succession laws specify that anyone above the age of 18 and of sound mind, can write their Will. A Will must be witnessed by two or more people who should not be beneficiaries of the estate. The law also allows for non-testamentary transfers, which include joint ownership, life insurance, etc. The law also mentions provisions for family and dependents.
Yes, the law allows for anyone to draft their own Will, provided they are of sound mind and above the age of 18. However, due to legal technicalities, it is advisable to take professional help.
Anyone who is not a beneficiary of the Will can act as a witness. The law requires a Will to be witnessed by at least two individuals.
Yes, a Will can be changed or updated anytime as long as the testator is of sound mind.
If a person dies without a valid Will in Sri Lanka, they are deemed to have died 'intestate'. In this scenario, the law of intestacy would determine how the person's estate is divided amongst beneficiaries.
If a Will is declared, it can be contested in a court of law. Properly drafted Wills with the help of attorneys mitigate the chances of being contested.
The Department of Registrar of Companies, Sri Lanka provides necessary help regarding Wills, last testament, estate planning, etc. The Legal Aid Commission also offers legal advice and assistance to those who cannot afford it.
If you're in need of legal assistance, it is advisable to hire a lawyer specializing in Will & Testament. They would guide you through the legal intricacies, help structure your Will to minimize potential disputes, and ensure that your last wishes are honored according to the local laws. Also, get your Will registered with the Department of the Registrar of Companies, Sri Lanka, to ensure its validity.
