September is National Wills month in South Africa and this week is National Wills


September is National Wills month in South Africa and this week is National Wills Week!!
The reality is that most people know they need a Will, but statistics show that more than 75 of South Africans pass away without a valid Will in place, causing devastating consequences for their families and dependants.
In our business we see the reality of families struggling to deal with the loss of a loved one regularly. This struggle is infinitely more difficult when the loved ones affairs are not in order.
Your Last Will and Testament is probably the most important document youll ever sign, and it forms the cornerstone of your Estate Plan. Your Will houses your final wishes, how you would like to distribute your estate, who your beneficiaries will be, who should take care of your children should something happen to you and your spouse etc.
Six consequences of passing away without a Will
1. You forfeit the opportunity to decide who inherits what and your Estate is distributed according to South African law. This means people whom you may not have wanted to benefit from your Estate may inherit your assets and family heirlooms.
2. Your Partner may be left with nothing if you are not married, or your Will is not updated from a previous marriage.
3. Your Childrens inheritance could pass to the Government Guardians Fund or appointed Guardian rather than to a Trust that will ensure your wishes for them are carried out.
4. Family feuds often occur when family members argue over the distribution of your Estate if your final wishes are not clearly documented in a Will.
5. Winding up your Estate can take years without a Will appointing a professional Executor, the Government is essentially in control of the process.
6. You lose the ability to nominate a guardian of your choice for your minor children.
If you need a Will or need to update your will you are welcome to contact us to assist with the process.
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September is National Wills month in South Africa and this week is National Wills
September is National Wills month in South Africa and this week is National Wills
September is National Wills month in South Africa and this week is National Wills

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