are your declarations positive? saturday 14 november 2015 ministry by trevor hyman

Are your declarations positive?Saturday 14 November 2015

Ministry byTREVOR HYMAN

Are your declarations positive?

Programme: Saturday 14 November 201510:00 – 10:30 Welcome/Praise &

Worship10:30 – 11:30Personal Financial

Planning11:30 – 12:30Last Will & Testament12:30 – 13:00Testimonies13:00 – 13:15Refreshment Break13:15 – 14:00“Are Your Declarations

Positive?!”


Personal Financial PlanningChristmas• Gifts & Related• Dinners & EntertainmentAny debt must be plannedPre-arrange spending limitsJanuary commitments (abnormal)


Personal Financial Planning (continued)ContingenciesAvoid debt


Last Will & TestamentDying testate

Testator decidesDying intestate

State/pre-existing rules decide


Wills Dying Intestate• Estate exceeds £250k• Spouse, Children• No Spouse, No Children• Parents• Siblings• Half Siblings, Grandparents


Wills Dying Intestate (continued) • Aunts & Uncles (Children)• Half Aunts & Half Uncles (Children)• Crown


Wills TestacyRequirements of a Valid Will• Capacity• Intention

Wills Testacy (continued) • Complies with Act• Signed on every page• Witnesses

Witnessed signatureOver 16, not blind, not

beneficiariesSign the last page ASAP



Wills Governing LawJurisdiction – Spouses chooseEngland & Wales• No Statutory Matrimonial Property

Regime• No Community of Property


Wills Governing Law – England & Wales (contd)• Marriage does not have proprietary

effect• Courts have wide Discretion on

DissolutionAncillary ReliefShould spouses establish an inventory of assets?


Wills Matrimonial Property Agreement/Pre-NuptialAdvisableHas to be fair, or spouse can apply for

ancillary reliefCannot prejudice offspring


Wills Matrimonial Property Agreement/Pre-Nuptial (continued)Both spouses to obtain advice, and list assets in detailContract can be concluded before or during marriageMay be modified. Does not require registration


Wills Matrimonial Property Agreement/Pre-Nuptial (continued)Matrimonial Assets: Fruits of Joint LabourNon-Matrimonial Assets: ‘Separate Property’• Pre-marital property, inherited property, personal giftsLength of marriage – Determining factor


WillsRevoke Earlier Wills• Last Will & Testament• Codicil – changes specific provisionsMarital Status• Marital / Pre-nuptial Agreements


Wills (continued)Children• All Offspring• Adopted Offspring


WillsExecutor

Spouse as ExecutorPower & Responsibilities Things to consider

• Capacity & Capability

• Authority & Competence

• Availability


WillsSpecific Bequests• Paintings, Antiques, Jewellery, Cars,

Property• Time-share, Shares, Sums of Money,

Proceeds of Insurance Policy/Investments, Education Endowments


WillsSpecific Bequests (continued)• Bequest to Spouse• Usufructs• Bequests to Charities


WillsWipeout provisions• Advisable to predetermineSpecific exclusions• Legality• Fairness


WillsGeneral provisions• Guardians• Pets• Additional provisions• No-contest provisions• Severability• Signature & Witnesses


Scripture BibliographyIsa 57:19 I create the fruit of the lipsProv 13:2Man shall eat fruit of his

mouthJoel 3:10 Weak say I am strongRom 4:17 Call the things ....they werePsa 139:14 Fearfully and wonderfully

madeNum14:27 Do to you as you have

saidProv 18:21 Tongue can bring death or

life


Scripture BibliographyJames 3:10 Blessing and cursing from the

mouthProv 6:2 Snared by the words of our

mouthJer 1:1-6 God chastises Jeremiah for

doubtPsa 141:3-4 Put a watch over your

mouthLuke 1 Zacharias’ unbelief – loses

voiceJosh 6:10 Be absolutely silent2 Kgs 4:26 ‘It is well’


Scripture BibliographyPsa 107:2Let the redeemed of the Lord

say soGen 1:3 ‘Let there be light’Zech 4:7 Who are you, ‘O great mountain?’Ezek 37:9‘Prophesy to the wind’

are your declarations positive? saturday 14 november 2015 ministry by trevor hyman

Documents