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?!”

Are your declarations positive?

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

Are your declarations positive?

Personal Financial Planning (continued)ContingenciesAvoid debt

Are your declarations positive?

Last Will & TestamentDying testate

Testator decidesDying intestate

State/pre-existing rules decide

Are your declarations positive?

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

Are your declarations positive?

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

Are your declarations positive?

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

Are your declarations positive?

Are your declarations positive?

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

Regime• No Community of Property

Are your declarations positive?

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?

Are your declarations positive?

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

ancillary reliefCannot prejudice offspring

Are your declarations positive?

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

Are your declarations positive?

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

Are your declarations positive?

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

Are your declarations positive?

Wills (continued)Children• All Offspring• Adopted Offspring

Are your declarations positive?

WillsExecutor

Spouse as ExecutorPower & Responsibilities Things to consider

• Capacity & Capability

• Authority & Competence

• Availability

Are your declarations positive?

WillsSpecific Bequests• Paintings, Antiques, Jewellery, Cars,

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

Proceeds of Insurance Policy/Investments, Education Endowments

Are your declarations positive?

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

Are your declarations positive?

WillsWipeout provisions• Advisable to predetermineSpecific exclusions• Legality• Fairness

Are your declarations positive?

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

Are your declarations positive?

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

Are your declarations positive?

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’

Are your declarations positive?

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’