© business 4 management ‘of the. $s
"estate, if necessary... Mos

“You: ‘should’ state Me précis *
why: you are disinhetiting J

__protected - “by this

"\Wiien to make out a will?

- Beckmans says, “As soon as
the ‘wife’ gets. pregnant.

get any assets.”

‘In a booklet « on. Wills &
Estates, Gillian Andrew

; suggests that it is a good idea

a

to: follow forms of wills that
have been successful in the
past, even though this i is not
‘legally necessary.

“The courts can strike out.

, any ambiguous ‘clause in a

will, and do so rather. than
guess what you had in
mind,” she says. “The use of

a precedent prevents: your :

leaving out something, or
saying something in a way
that can be misunderstood.”

She recommends using: the |

will standard forms available

at corer drugstores for 50
cents.

“Wliteesszes should initial

7 each page of the will in order

to prevent any tampering.
They shoald also initial any
minor corrections.

Major alterations can be
inserted in a will through the
use of codicils; or clauses
added later. They must be
witnessed and signed in
exactly the same procedure
as the will itself.

One roblem with
codicils, though, is that it’s
easy for surviving relatives
to see how the will has been
changed to favor one
relative over another. This,
Andrew says, can cause hard
feclings. Whereas, if you
make a new will, no one

' need ever know how the

original one distributed your
estate.

As mentioned in the
previous column, the will

"Before that, as soon as you ~ incu

“enough to cover the debts, -

then. _all ‘gifts of money,.
‘annuities, will be
tapped i ‘equal proportion.
“4 .
If eyen by completely
wiping out the money gifts
your’debts cannot be met,
the next gifts to fail are the
specific gifts or .tangible
property, whether personal
property or real estate.

If the debts of . the
deceased cannot be met
even by selling all of the
assets, the estate is: in-
--solvent, and the executor

_Tnust notify creditors. “.. 4

Andrew suggests: “If you

fear your debts may exceed -

your ready cash on your
death, you can stipulate in
your will that certain gifts
are to take priority over all

others, thus changing the.
order of gift failure a

wedlock can--claim on the
_ mother’s estate. .

Divorce cancels ‘all rights s
against an. ex-spouse. under

the law but it doesn’t cancel

a gift going to an.ex-spouse_.

in a will. The divorcee must
change her will or make a

new one if she doesn’t want

her ex-spouse to inherit.

Many Wills contain special
clauses. Sometimes, when a
person has _ particular
confidence in the business
abilities of his trustee, the
will will contain an in-
ivestment clause giving © the
"trustee freedom to invest in
whatever seems wise.

Otherwise, the law regulates
what the trusteé may invest *
in, prohibiting risky, high- ©

return investments.

Some special clauses
irhpose. odd conditions on
beneficiaries. One case in

Hydro’ S hints to
waste watchers :

Water heating
Set thermostat on your
water heater at 50°C - 65°C
(19°F - 150°F). Dishwashers
usually require 60°C (140°F).
Anything above that wastes
energy.

Insulate hot water pipes in
your home with half-inch
wrap-around insulation and
prevent heat loss.

Repair leaky hot water taps.
A drip a second wastes a
tank of water a week.

You can use lower light
Jevels in rooms decorated in
light colors.

Keep all light bulbs and
reflectors dusted and clean.

Insulation and
space heating
Did you know that up to

one half of energy use in.

your home is accounted for
space heating? Good in-
sulation can cut heat losses
and save money.

Install storm windows or
double glazing and reduce
heat loss through glass by 50
per cent. In cold regions, use
triple glazed windows.

Use weatherstripping to
seal door and window
openings, and cut down on
heat losses.

law.
“although a child born out of .

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