15/09/2021
Some key points regarding why you should review or draft a Will
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• If you pass away without a Will your Legacy or Estate will be distributed according to South African law and not according to your wishes. If you have children, your estate passes to the Governments Guardian’s Fund who administer the money on behalf of the children. Don’t let this happen, rather draft a Will.
• Without a Will the winding up of the estate could take years. With no nominated executor, the Government will be in control of the entire process.
• Drafting a Will helps avoid court issues, delays and family disputes over who gets what, if anything at all. A Will allows YOU to leave a legacy. YOU get to decide how your assets including your home, properties and belongings will be distributed, NOT THE COURTS. This ensures that your wishes are met.
• A Will allows you to appoint a professional executor who can administer the winding up of the estate quickly and efficiently – This removes delays in winding up your estate.
• A Will allows you to appoint a legal Guardian for your children in the event of a simultaneous death and more importantly allows you to set up a Trust with Trustees appointed by you to administer the money left to the children, so the courts don’t have to.
• If your Will has not been updated from a previous marriage, or you are currently married without a Will, your partner may be left with nothing, or the wrong person may inherit from your Will. Simply put - you need to update your will.
• The relief of knowing you have a legal document in place that you can always update at any time in the future.
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