Billionaires Of The World. This site is used in reflecting on the lives of Billionaires. So you can think like them. And expand your world to the impossible to the very possible. When was the last time you sold an airport and made 700M euros?

Wednesday, June 11, 2008

Executor denies executing billionaire’s will

I would like to correct any misimpression that might have been created by the news item titled, "Jamby Madrigal: I am not greedy." (Inquirer, 4/22/08) The report stated that "Chito Madrigal passed away on March 24, leaving her fortune to her husband, former Foreign Affairs Minister Manuel Collantes and niece, Gizela M. Gonzales-Montinola, whose husband, Bank of the Philippine Islands President Aurelio Montinola, executed the childless billionaire's will two years ago."

I have been advised that the term "execute" carries specific and peculiar meanings in law. In the particular context of the article, "execute" may be misunderstood to mean as "making a legal document [such as a will] valid by signing" or "bringing a legal document to its final, legally enforceable form."

Ms Chito Madrigal's will was signed and executed by no less than herself as the testator. And while I was named by the will as one of its executors (i.e., one charged to implement the will's terms and conditions), I never "executed" the will two years ago, or during her lifetime.

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