LAST WILL
THIS IS THE LAST WILL of me xxxxxx of Post Office Box Number xxxxx Nairobi in the Republic of Kenya made this .............day of....................................2021.
I hereby revoke all Wills, Codicils and testamentary dispositions heretofore made by me and DECLARE this to be my Last Will and Testament.
I APPOINT my wife xxxxxxx of the same address as me to be the Executrix and Trustee of this my Will.
a) After payment from thereout of my just debts, funeral and testamentary expenses and SUBJECT TO THE PROVISIONS HEREOF, I GIVE AND BEQUEATH the residue of all my real and personal Estate whatsoever, howsoever and wheresoever held in my name (jointly or otherwise) and/or inherited by me UNTO my said wife xxxxxxx.
In the event my said wife predeceases me or does not survive me for period of Thirty (30) days the residue of all my real and personal Estate shall be inherited by my children xxxxxxx and xxxxxx of the same address as me in equal shares who shall in that case be the EXECUTORS and TRUSTEES jointly or severally of this my Will.
The following persons make part of my family- x y z
It is my wish that in the event of the demise of my wife under circumstances other than Clause 2, the residue of the estate upon my wife’s demise shall be inherited by my two sons in equal shares.
If any of my sons shall die in my lifetime or after my death without attaining a vested interest under (2) and/or (4) above then and in such an event my surviving trustee shall hold his share in trust for his widow. In this case the surviving son shall be the Executor/Trustee of this my Will.
If any of my sons shall die as per clause (5) above and without leaving a widow then and in such an event the surviving son shall hold his share in trust for his children who upon attaining the age of 21 years shall take by substitution in equal shares absolutely per stripes the share of my residuary estate which such deceased son would have taken.
My Executor/s and Trustee/s for the time being under this Will shall have the Power to sell, call in and convert all or any portion of my Estate into money with power to postpone such sale calling in and conversion without being answerable for any loss or diminution in value occasioned thereby to hold the net proceeds of such sale, calling in and conversion, the net profit and rents until sale and any ready money and distribute the same in accordance with the provisions of this Will.
MY TRUSTEE/S shall have the following powers in addition to theirs under the general law:-
a) At any time and from time to time to raise capital to any extent to pay apply or reserve it for the benefit of the beneficiaries;
b) To invest trust money and transpose investments with the same full and unrestricted freedom in their choice of investments as if they were the absolute beneficial owners;
c) To insure against loss or damage by fire or from any risks any property for the time being unsold and comprise in my residuary estate.
d) The power to appoint a trustee/s in place of one who is unwilling or unable to act shall be vested in my trustee;
e) To appoint an Attorney vested with powers to act in their behalf and play the role and exercise such powers as are vested on the Trustee.
For avoidance of doubt I declare that any gifts that I have made or may in the future make during my lifetime to any of my said beneficiaries shall not in any way affect any of the trusts set out above.
My trustees/s shall not be liable for the consequences of any error or forgetfulness whether of law or fact on the part of any of the trustee or their legal or other advisers or generally for any breach of duty or trust whatsoever unless it shall be proved to have been committed or omitted in personal conscious bad faith by the trustee charged to be so liable.
Signed by the said xxxxxxxxxxxx )
at Nairobi in the presence of us present at the ) ...........................................
same time who in his presence and at his request ) (TESTATOR)
and in presence of each other have hereunto )
subscribed our names and signatures as witness )
of this WILL. )
AS WITNESSES
Signature...............................................
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Occupation...........................................
Address................................................
Signature.............................................
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Notes-
Did you know you can form a trust where if you die, all your estate falls under a trust that has a manager. That manager takes care of the properties and income generated from those properties is given to your selected beneficiaries. You can have an organization that manages property do this on your behalf.
If you don’t have a will, the process of your children inheriting the property becomes very difficult. The estate falls into administration and your wishes that were not formalized may not be properly executed by the administrator.
It is always better to have a will.
For proper guidance, contact us at Kenyanlaw.com. And be directed to a law firm that deals with family law. Receive proper guidance on estate planning
Disclaimer- this is a simple guide. It is not to be taken as legal advice.
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