Employee Engagement: How to Maximize Productivity and make your Employees Want to Work?

What is employee engagement?
Employee engagement is based on trust, integrity, two way commitment and communication between an organisation and its staff. It is an approach that increases the chances of business success, contributing to organisational and individual performance, productivity and well-being1.
Employee Engagement from the perspective of the employees2

Imagine if an employee can wake up and be excited about going to work. Imagine if he looks forward to sharing great ideas, to working together with colleagues and accomplishing a common goal. That employee would feel as though they are a part of the organisation making a vital contribution to achieving the company’s mission.
Employee engagement is about being included fully as a member of the team, focusing on clear goals, trusted and empowered, receiving regular and constructive feedback, supported in developing new skills, thanked and recognised for achievement.
A work environment that is fair, based on mutual respect is an engaged organisation.

Employee engagement from the perspective of the Employer 3
Employee engagement is about positive attitudes and behaviours leading to improved business outcomes, in a way that they trigger and reinforce one another. Imagine an organisation that runs on employees’ knowledge and ideas to improve products and services and to promote innovation. Imagine a place where your employees can recommend the organisation to prospective employees and boast that the actions of the employer are in line with the values of the company.

Methods of Employee Engagement
Have a tea lady who walks around offering beverages, she can then return to the refrigerator and bring it;
Give employees flexi-time-whereby they can work from home on two or more days per week, for accountability they will log in and log out;
Have a snack or fruit bar full of fruits and snacks for employees to indulge in;
Ask employees about their goals and aspirations and advise them generally on how to move forward;
Show concern for employees who are experiencing difficulties when their spouse or sibling is sick i.e. compassion;
Give employees every other Friday off for personal business, the compromise is that staff will work an additional hour everyday or come in one hour early every morning.
Try to get all employees involved in activities this limits the feeling of alienation.
Employee engagement is about eliciting a deeper commitment from our employees thereby receiving fewer sick leave ,reduction in absenteeism, decreasing accident and incidents rates , limited conflicts and grievances ,and ultimately an increase in productivity 4.
References: 1-4 http://engageforsuccess.org/what-is-employee-engagement

 

The author is an attorney at law in Trinidad , she specialises in Anti Money Laundering and the Countering of the Financing of Terrorism. See the website http://asydneygroup.com Instagram @asydneygrouptt Whatsapp 1 868 484-7778

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How to determine if you are being cheated on : Look out for these signs

This generation inherited infidelity from our forefathers. We have now glamorized being the side piece and we pity the main course who is living under false assumptions. I had the distinct pleasure of speaking to a wise man. He told me that in order to discover whether you are being cheated on,take the following steps :

1.Go to sleep early ,then wake up at midnight to check if your partner is sleeping next to you or sneaking phone calls to another lover.

2. If you live together, purposely forget your keys at home,that way,your partner has to open the door for you. You can catch them off guard at this juncture.

3. Drop by their residence (if you do not live together ) unexpectedly,and carry a token of love for them,such as flowers or a meal. Ask to go inside the house and have a refreshment.Observe the surroundings carefully. 

4. Pay attention to changes in their daily routine,such as prolonged time spent at the gym or unexpected trips to the grocery that turn into a 2 hour road trip. 

5.Keep your nose open to new fragrances or body odors.Everyone has a distinct smell and when persons are romantically involved,their odors combine and may change. 

6. Changes in sexual desires or requests . Your partner may be trying to be more adventurous or simply chasing a sexual dragon on a quest for pleasure. A new lover may have exposed them to different intimate positions and they may want to try it with you.

7. Use of new slangs,or terms-we emulate the same speech patterns as those we constantly interact with,so your partner may be repeating new words that they heard from their lover. 

This may seem like a fishing expedition,but it is worth the effort to determine if your time is being wasted. The biggest step after discovering that your partner is in fact cheating,is to be willing to walk away. Indeed,you will miss your lover, but then ask yourself what exactly do you miss about them. Do an audit of the time that you two spent together. Did you give more than you received? Were you the only one inconvenienced by your meeting times or were they mutually convenient ? The end goal is to find out if you were being used. Then you have to remember your worth and walk away. If you choose to stay with your lover after you learn that they are cheating on you,then you are solely responsible for any future unhappiness. The cheating spouse may seek to exercise control over you psychologically. They may be under the impression that you cannot function without them and they will continue to hurt you.

Why do people stab you in the back ? Why do they talk behind your back ?

People underestimate the importance of their backs. If you are having back pains you will have grave difficulty functioning. Your central nervous system consists of your brain and your spinal cord. Your spinal cord runs along your back. Spine injuries may render the victim cripple. I was watching the second installment of Independence Day (2016) and the alien invader was destroyed by shooting her in the back. One of the men who was fighting to save the World advised his comrades to aim for the alien’s back because that was her weakness. I took a moment to process this and I recalled that the human back is also a vulnerable area. We always lament when persons known to us say negative about us “behind our backs “. We become bitter when they “stab us in the back”, wouldn’t it hurt more to aim for our hearts ? I think not,because a broken heart can mend. But a broken back, will never be whole again. In this era of user friendly people ,we have to guard our backs. We have to watch our own backs because a friend,is a known enemy. 

Remember your training, follow the protocol then be emotional for a brief moment

Training has a major impact on our minds . A young man who was trained in the army will never be the same again. A student who receives training at Law School will analyze everything. Apart from preparing us for a career,training will impact the way that we interact with others. I saw the new Kingsman movie with my best friend and after Eggsy’s home was destroyed he became flustered. Merlin appeared and warned him to “…Remember his training,follow the doomsday protocol ,and then be emotional for a brief moment”. There was so much wisdom in that statement. It is easy to feel overwhelmed when we are faced with difficult times. We can let our emotions rule us, and not ‘feel’ to go to work. Everyone can see that we are upset or sad and this is where emotional intelligence skills are displayed. In this age of ‘unsocial media’ we may post a status or a video that we may soon regret. We have to remember our training. After that,there should be certain steps to take in the event of disappointment. This may include ‘plan B’ or it may include leaving an abusive relationship and returning to your family home. For a fleeting moment,shed a tear. Express your frustrations in a private corner and leave them there. Do not nurse the wounds from a past lover, do not nurture the hate. To do otherwise, is to plant the seeds of bitterness and resentment. This makes life appear grim and unbearable. 

Knock, Knock, knocking on Opportunity’s door…the importance of actively pursuing your dreams

The race is not for the swift but for those who can endure. You cannot catch fish, if you do not lower the rod in the water. You can stay in the boat as long as you want, the fish will not jump into your plate. Now is the time to get up, get out and get something done in your life. Stop blaming others for the outcome of your decisions, this is your life. I am the proud guardian of 3 kittens. I have one special kitten, he has developed a system of getting my attention. The kitten has a great sense of time, he knows my bed time, he knows my departure time for work and he knows when I will return. If I leave the house and he did not anticipate that ,he sits on a pile of bricks to get a better vantage point to see my safe return. He sits outside my door on a blue mat that I bought for him. If he does not see me, he sits outside the window , where he can hear the sound of a television or music. He climbs on the rooftop to get my attention and purrs. He is always ready for the sound of the cracking of the door, when I am about to feed him. He always eats first because he is always ready for the opportunity to get my attention first. His brother and sister always eat his leftovers.

This kitten is brilliant. Instead of knocking on the door, he sleeps outside my door. He knows that I have to leave the house at some point. He makes himself comfortable on my step and he waits. How many times in life do we knock on a closed door? When we get no response, we walk away in frustration. This kitten has developed a clever system of getting what he wants. We must do the same, if we want a promotion at our job, we must actively learn what is required for the new position. Go and learn new courses, take up a new language, volunteer on the weekends to gain experience. Do not complain and take no action. If you want a boyfriend or girlfriend, become your own friend first. Discover yourself, question why you drink excessive alcohol, find out your triggers. Improve yourself, when the time is right and a partner approaches you, he or she will complement your life,not complete it.  Patience is required to wait for the opportunity to arrive, but while you wait ,you will be busy. Brother Buju Banton said that “opportunity is a scarce commodity” so you have to be prepared when it comes. The universe rewards effort. All the time and sweat that you spend perfecting your craft will return onto you seven fold. As you grow and mature, you will network and someone may open that door that you have been knocking on and invite you inside. You may be asked to provide the password to enter, this password may be a certain skill, or a different language or a certificate that you never bothered to pursue.

This is your life, so make  your bed outside the door that opens the way to the opportunity that you seek and improve yourself , while waiting for the door to open. If you become weary, sit by the window, climb on the rooftop, get the attention of the person who has to open the door for you.

How to achieve any goal: Take baby steps and set deadlines: Must Read

When you want something all the universe conspires in helping you achieve it according to Paulo Coelho. The power of the human spirit is amazing. We can conceive an idea, and we can bring it to pass. Everything that we consume is ultimately the product of an idea. Successful people are always thinking, they then develop their new ideas. I was introduced to the sibling of my favorite client and I was provided with a better insight into my favorite client. My favorite client is always reading and learning, he devours books and he discusses what he learned with his family. He revisits discussions 15 minutes after first introducing the topic. He emphasizes the differentiating qualities of successful people and the average man. He works like a beast of burden and is deeply passionate about his services. He is a giant in his industry but we acts like it is his first day on the job. He is fascinated by everything and he is always offering opportunities for young entrepreneurs. Before our first introduction, I was following his career and many times I expressed my interest in serving his companies in any way possible. I wanted to touch the hem of his garment as it were. If only some of his ambition could touch the contours on the palm of my hands, then I could rest at night. Then one day, he personally responded to one of my advertisements and I have been serving his companies since. I was determined to ensure that he was my client and I did not give up after being ignored. I  ensure that I have blank sheets of paper at all our meetings, because he enjoys drawing illustrations to explain his ideas to me. At one particular meeting, he explained to me how he accomplished his goals. He said “Sydney, this is how you can accomplish anything in your lifetime”…

  1. Write the goal down. He said that all intelligent people write things down with pen and paper. There is magic in seeing your goals written in your own handwriting with a plan for your future.
  2. Stick up the note with your goal in your room, possibly on a mirror or on a calendar and everyday and every night, look at it.
  3. Tell a friend or family about your goal , although some may discourage you, it renders you accountable. In the near future , you may be asked for any updates on your journey to accomplish your goal.
  4. Devote time to read daily about your goal, it can range from 15 minutes to 30 minutes per day, it can be a book or an online article.
  5. Day dream about achieving your goal, imagine all your friends congratulating you on the new house or purchasing the heavy equipment.
  6. Think about your goal all the time, there is a reserve of power in your subconscious mind. You have to think about what you want your reality to be. Instead of consuming negative news about crime and the foolishness on social media, focus on your life.
  7. Find out the technical “know hows” in achieving your goal. This may require that you take an evening course or that  you attend seminars.
  8. Get professional advice, this may be in the form of advice from an experienced accountant or from the owner of a heavy equipment rental company.
  9. Watch motivational videos everyday to be able to move on after disappointment. In pursuing your dreams , you will face opposition but you have to sail through the rough waters.
  10. Break up the goal into smaller steps that you can do every week , month or year. This way, you will not feel worn out. It is easy to get worn out when both heaven and hell are against you.
  11. Walk away from toxic people, they will drain your energy and distract you from your purpose. Leave social media periodically, those who call you are the real ones. The others are just ‘likers’ or ‘commentators’.
  12. Set reasonable deadlines to accomplish the steps that lead the way to your goal. Stick to these deadlines.
  13. Refuse to give explanations for your decisions. You do not owe anyone explanations, it is your life.
  14. Ensure that you like the person who you are becoming on your journey.
  15. Never give up
  16. Use what you have until you can do better.
  17. Do not compare your progress to others, you are not playing on the same battlefield.
  18. Be willing to help others along the way.
  19. Work hard, work must feel like a sport to you.
  20. Achieve that goal.

I trust that his advice is of use to at least one fellow human.

ABOUT THE AUTHOR:

A.Sydney is an attorney at law based in Trinidad and Tobago. She specializes in AML/CFT/Tax Compliance, and provides Corporate Secretarial Services. Feel free to explore the website for her portfolio of companies: http://asydneygroup.com .

Add her social media accounts:

Facebook: https://www.facebook.com/sydneygrouptt/

Instagram: https://www.instagram.com/asydneygrouptt/?hl=en

Linked In: https://www.linkedin.com/in/sydney-group-238922141

What do Corporate Secretaries do?: Choose wisely when forming your Private Limited Liability Companies

I heard a joke at a Human Resources Seminar about an advertisement that was posted for a vacancy for a Corporate Secretary and about 20 secretaries applied. This is in no way to be condescending, I highly value secretaries.  Even they will laugh at the joke. There is a huge difference between the tasks assigned to a Corporate Secretary and a Secretary. I always advise my clients to be cautious when appointing a Corporate Secretary. For the removal of all doubt, one of the directors can also function as the Corporate Secretary. The signature of the Corporate Secretary is required on multiple bank documents to open the company bank account so kindly ensure that the Corporate Secretary is easily accessible.

Powers of the Corporate Secretary:

  • The Corporate Secretary can be a signatory on the company’s bank account and therefore issue and sign checks;
  • The Corporate Secretary prepares and files the Annual Returns with the Companies Registrar;
  • The Corporate Secretary can dissolve the Company by appending his or her signature to the relevant document. In the event that relations break down between a director and a corporate secretary, she can bring the company to an end. Of course the procedure takes at least 6 months and creditors, stakeholders will be notified by way of advertisement.

The following represents a list of the responsibilities of Corporate Secretaries[1]:

  • Ensuring compliance with statutory and regulatory requirements. There are listed business in Trinidad and Tobago such as Real Estate Companies, Car Dealers that must comply with certain anti money laundering regulations. In terms of procedure, a Compliance Officer should be hired to ensure that the company follows that law with respect to the Financial Intelligence Unit obligations. In the interim, the Corporate Secretary can perform a compliance function.
  • Ensuring the integrity of the governance framework;
  • Responsible for the efficient administration of a company;
  • Implementing decisions made by the Board of Directors;
  • Acting as adviser to the company directors;
  • Handle company share transaction-issuing new shares, arranging dividend payments and; observing al legal requirements;
  • Liaising with auditors, lawyers, tax advisers, bankers and shareholders on board governance issues;
  • Attending and taking minutes of director’s and members’ meetings;
  • Ensure compliance obligations under relevant laws and the requirements of regulatory authorities are met;
  • Directing the activities related to the annual meeting of shareholders;
  • Maintaining key corporate documents and records.

 

What are desirable qualities in a Corporate Secretary[2]?

  • Analytical, problem solving skills;
  • Management and organizational skills;
  • Computer literate;
  • Discretion with confidential information;
  • Legal background;
  • Good communication and interpersonal skills.

 

The Corporate Secretary works closely with the Board of Directors, the Chief Executive Officer and Senior Officers providing information on Board best practices and tailoring the Board’s governance framework to fit the needs of the company, its directors, employees and shareholders.

[1] http://www.cscs.org

[2] (www.governanceprofessionals.org)

 

Disclaimer

The content herein is provided for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney at law to obtain advice with respect to any particular issue or problem.

ABOUT THE AUTHOR:

A.Sydney is an attorney at law based in Trinidad and Tobago. She specializes in AML/CFT/FIU Compliance, Taxation and provides Corporate Secretarial Services. Feel free to explore the website for her portfolio of companies: http://asydneygroup.com .

Add her social media accounts:

Facebook: https://www.facebook.com/sydneygrouptt/

Instagram: https://www.instagram.com/asydneygrouptt/?hl=en

Linked In: https://www.linkedin.com/in/sydney-group-238922141

How to make your own Contracts: A brief introduction to Contract Law: DIY

I do not trust anyone. I am suspicious of my shadow, she keeps following me around. In the event that anyone asks me to assist them financially, I prepare a legally binding contract and I kindly ask them to sign it. The degree of consanguinity is irrelevant to me, I firmly intend to litigate for the return of my pennies. People do not understand how much I value my precious treasure, it is equivalent to cursing me when you ask me to part with it. A fool and her money are soon parted, and Mother raised no fool. Please allow me to explain the Law of Contract to you to empower you to create your own enforceable contracts.

What is a Contract?

A contract is an agreement between two or more parties that is intended to be legally binding.

What are the elements of a binding and enforceable contract?

Offer, acceptance, consideration and intention to create legal relations.

What is an offer?

An expression of willingness to enter into a contract on stated terms proposed by the offeror provided they are accepted by the party to whom the offer is addressed (the offeree).

What is an acceptance?

A final and unqualified acceptance of the terms of an offer. The person to whom the offer was made (offeree) must accept all the terms of the offer.

What is consideration?

When each party to the contract promises to do something for the other party.

What is intention to create legal relations?

The assumption by the Courts, that the parties to the contract intended to resolve any disputes arising from the contract in a Court of Law.

Why are contracts important in conducting my transactions?

  1. a) To have a valid, enforceable Agreement that will be able to stand up in a Court of law.
  2. b) To be able to protect yourself from the other party breaking his promises.

 

It is essential to prepare contracts in respect of the following transactions because valuable assets are involved:

  • Work to Own Vehicle Arrangements;
  • Money Lending Arrangements involving friends, families and strangers;
  • Real Estate transactions;
  • Home Improvement where contractors are involved;
  • Equipment Rentals.

 

What are some essential ingredients in a valid, enforceable contracts?

  • Stating the jurisdiction in the top left hand corner for instance “REPUBLIC OF TRINIDAD AND TOBAGO”.
  • The date of the Agreement;
  • The names, addresses and occupation of the contracting Parties;
  • The fees payable or consideration;
  • The date the work should start/ commencement date;
  • Dispute Resolution Clause whereby efforts can be made to resolve disputes outside of Court as a an alternative to instituting legal proceedings;
  • Signatures of the contracting Parties.

 

Disclaimer

The content herein is provided for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney at law to obtain advice with respect to any particular issue or problem.

About the Author:

A.Sydney is an attorney at law in Trinidad and Tobago. She specializes in AML/CFT/FIU  Compliance, Taxation and provides Corporate Secretarial Services. Feel free to explore the website for her portfolio of companies and add her on social media:

Website:

http://asydneygroup.com

Facebook:

https://www.facebook.com/sydneygrouptt/

Instagram:

https://www.instagram.com/asydneygrouptt/?hl=en

LinkedIn:

https://www.linkedin.com/in/sydney-group-238922141

FACTS about FATCA in Trinidad and Tobago for Individuals and Companies: Must Read

“Uncle Sam wants to ensure that he collects his taxes wherever his nieces and nephews reside”. I overheard one of my bankers explaining this reasoning to another client  in response to a  query about the FATCA questionnaire. In accordance with one of our favorite superheroes in the Book of great Parables and Fables, we must render unto Caesar the taxes that are due unto him[1]. This explanation resonated with me and I want to present you herein with some facts about FATCA .

What is FATCA?

FATCA is an acronym for Foreign Account Tax Compliance Act and it was introduced by the United States Government in 2009 to ensure that U.S. persons with financial assets outside of the United States are paying U.S taxes.

What is the rationale behind introducing FATCA legislation?

The main objective is to obtain information on U.S. persons who may have financial assets outside of the U.S, or those U.S. persons who may be investing and earning income through financial institutions outside the United States.

Who is affected by FATCA?

U.S. citizens or U.S. registered businesses such as limited liability companies, trusts, partnerships, estates;

US individual residents, including US Green Cardholders;

US individuals who own certain foreign financial accounts or other offshore assets;

Local businesses/companies that have U.S. ownership;

FFIs- any non U.S. financial institution (an institution that accepts deposits, invests, trades securities).

What are financial Institutions required to do with respect to FATCA?

Undertake certain identification and due diligence procedures involving new customers desirous of opening new accounts;

Report annually to the Internal Revenue Service (IRS) information on customers who are U.S persons or foreign entities with substantial U.S. ownership;

Close accounts of certain customers who do not wish to cooperate with the new FATCA requirements including:

(a) Non-participating financial institutions or ;

(b) Customers who fail to provide sufficient information to determine whether or not they are a U.S. person.

Who is a U.S. person for the purposes of FATCA?

A citizen or resident of the United States, including a green card holder;

A partnership, corporation, estate, trust incorporated or created under US law (US incorporated entity);

A non U.S. incorporated entity having substantial ownership held by –an individual who was born in the US or is a US citizen/resident (including a green card holder) or has a US address or a US mailing address;

A U.S. incorporated entity.

How would I know if I am a U.S. Person under FATCA?

The following are captured in this definition:

U.S. resident or citizen including US Green Card holders;

U.S. Place of Birth;

U.S. home or mailing address;

Only address is a U.S. PO Box, C/O mail address

Power of attorney or signing authority having U.S. address

A U.S. telephone number;

Standing order to transfer funds to an account in the U.S.

What are the FATCA forms?

There are various FATCA forms that are to be completed by the Applicant:

U.S. Person Status Form (Individuals only);

Non US Person Declaration;

Non US Person /Letter of Explanation of US Address;

Waiver of Confidentiality/Data Protection for US Person.

The Internal Revenue Service forms are:-

Form W9;

Form W-BEN;

Form W-8BEN-E.

Different documents are required for   individuals and for companies. There are various classification for business and companies for the IRS forms.

Disclaimer

The content herein is provided for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney at law to obtain advice with respect to any particular issue or problem.

[1] The King James Version: Mathew Chapter 22 Verse 21

About the Author:

A.Sydney is an attorney at law in Trinidad and Tobago. She specializes in AML/CFT/FIU  Compliance, Taxation and provides Corporate Secretarial Services. Feel free to explore the website for her portfolio of companies: http://asydneygroup.com .

 

 

Will you prepare a WILL?

A farmer told me that the best of the crop should be kept for your children, the remainder should be offered for sale. He said it takes the average man 10 years to learn this lesson. He lamented that many men are not concerned with the well-being of their seeds once planted. These seeds do not receive water from their planter during the lifetime of the latter. It cannot reasonably be expected that the seeds will receive fertilizer following the planter’s death. For those farmers who are concerned with the future of the spouse and children, please read the following and take action forthwith.

While the realization of the need to prepare a Will is unpleasant, it is a necessary task because you are actively planning to provide for your family after your exit from this lifetime. Creating your Will is the first step in a two-step process. The second step is safely storing your Will. It is prudent to ensure that the Testator (person who creates the Will) has title to all the assets that the Testator purports to distribute.

 

What Is a Will?

A Will is a legal document that contains your wishes regarding the distribution of your property and the care of any minor children after your demise. There are certain formalities that must be followed to ensure that the Will is valid and enforceable and ultimately that your wishes are carried out.

 

What can I do in a will?

Most people use a will to leave instructions about what should happen to their property after they die. However, you can also use a will to:

  • Name an executor;
  • Name guardians for children and their property;
  • Decide how debts and taxes will be paid;
  • Provide for pets;
  • Serve as a backup to a living trust.

 

 

Why Do I Need to Create a Will?

Creating a Will gives you;

  • Sole discretion over the distribution of your assets;
  • The power to decide how your belongings, such as cars or family heirlooms, should be distributed;
  • The power to direct the distribution of your financial investments;
  • The ability to provide for the care of minor children;
  • The opportunity to minimize tensions among survivors;
  • Avoid relatives battling over your possessions
  • The power to direct your assets to the charity of your choice.
  • To leave your assets to an institution or an organization, a Will can see that your wishes are carried out.

 

How Do I Get a Will?

When you are ready to prepare a will, compile a list of your assets and debts. Be sure to include the contents of safe deposit boxes, items of sentimental value, family heirlooms and other assets that you wish to transfer to a particular person or entity. If your estate is substantial (ranging in the millions of dollars) or your situation is legally complex, you may wish to enlist the services of an attorney at law.

 

 

While you can create a Will for yourself, there are certain formalities set out by the law.

Under section 42 of the Wills and Probate Act Chap. 9:03 of the Laws of the Republic of Trinidad and Tobago, a Will must be made in writing, signed at the end of the document by the person making the Will, A testator must be 21 years or over. The Will must be witnessed by two persons who will also sign at the foot of the Will and in the presence of each other at the same time and in the presence of the testator. Each person signing the Will must have the mental capacity’ to sign the Will. An intended beneficiary must not be used as a witness to attest to the Will.

 

Can I Change My Will after it is created?

Changing your will is easy:

  • Simply write a new will to replace the old one or;
  • Make an addition using an amendment known as a codicil.

 

 

Who should I name as my executor?

You can name your spouse, mature offspring, or another trusted friend or relative as your executor. If your affairs are complicated, it may be prudent to name an attorney at law or someone with legal and financial expertise. You can also name joint executors, such as your spouse or partner and your attorney.

 

One of the most important things your Will can do is empower your executor to pay your bills and deal with debt collectors. Make sure the wording of your will allows for this, and also gives your executor leeway to take care of any related issues that aren’t specifically outlined in your will.

 

Where should I keep my will?

  • The Probate Registry at the Probate Court- usually requires your original Will before it can process your estate, so it is important to keep the document safe yet accessible.
  • A bank safe deposit box that only you can get into, your family might need to seek a court order to gain access. A waterproof and fireproof safe in your house is a good alternative.
  • Your attorney at law or someone you trust should keep signed copies in case the original is destroyed. Signed copies can be used to establish your intentions. However, the absence of an original will can complicate matters, and without it there is s no guarantee that your estate will be settled as you’d hoped.

 

How often does a will need to be updated?

You can update your Will as often as you wish. The only version of your will that matters is the most current valid one in existence at the time of your death. A rule of thumb: Review your will every two or three years to be safe.

 

How can a Will be revoked?

A Will can be revoked by a valid marriage as well as the signing and witnessing of a new Will.

 What happens after death?
The Will is probated. Probate is a process whereby the validity of a Will is determined.

 

What happens when the deceased left no will behind (Letters of Administration)

If you do not have a Will, you die intestate. In such a case, the State will oversee the distribution of your assets.

 

Attention to all farmers: Unless you want the Estate Owner to dictate your affairs and distribute your crops after your death, get your farm in order.

 

Disclaimer

The content herein is provided for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney at law to obtain advice with respect to any particular issue or problem.

ABOUT THE AUTHOR:

A.Sydney is an attorney at law by profession in Trinidad and Tobago. She specializes in AML/CFT/FIU  Compliance, Taxation and provides Corporate Secretarial Services. Kindly explore the website for her portfolio of companies: http://asydneygroup.com .