Precatory memorandum – This legal term is used in the Wills and Probate sphere, where express a wish or a desire rather than a clear command. “Precatory memorandum” is often implemented in trusts or wills. These wishes detail how the testator wants their assets to be distributed among the beneficiaries by the trustees or executors of the will. Somewhere the precatory memorandum is called “memorandum of wishes” (n). If not implemented in a will or trust, the precatory memorandum is not binding, but only a desire, where it is called “precatory words” only.
*Note that it is advisable to hire a lawyer who to draw your personal will. Lawyers are qualified in Law and they know what terms and conditions should be implemented in such forms to protect the interests of gift makers (testators).