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Glossary of terms used on this site

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Term Definition

a written document that sets out how you wish your property to be divided after you die. Your property is also called your 'estate'. The nature of your relationships may affect how your estate is distributed, especially if you don't have a Will. To be official, a Will must be:

* in writing
* signed by two witnesses, present when the Will-maker signs the Will and using the same pen
* dated at the time of signing
* Made of the person's own free will, without pressure from anyone else.
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Sean says

We are in business with my parents and brother. Some land had been transferred to my brother and I and we asked Jim to prepare a immediate exit strategy in case one of us had or wanted to withdraw. We sought bank finance to improve the land. Jim was able to do that plus discover a error in how the land was transferred that the bank had missed. Since then my brother has left the state and he is being paid out exactly as we set up; no argument.