WILLS & ESTATE PLANNING
Your WILL can take just 15 minutes. Why would you wait?
Let’s get your Wills sorted today.
It only takes a few minutes.
The allocation and division of assets after death is an emotional time for all. It’s drawn out and difficult for the people left behind if you do not have clear Wills in place.
A Will and Testament allows you to appoint a guardian(s) for minors and create a support structure for your children which will ensure that they are taken care of the way you intended.
Leave your details below and we will call you back to get your will:
Here are 8 tips and 8 reasons why you should make an appointment today!
Don’t Procrastinate…
There are many reasons to do a will – even if you are single. The biggest reason is to ensure family and loved ones don’t have to deal with an admin and financial nightmare if you’re gone. We can do your will in as little as 15 minutes. Chat to me today – don’t hesitate.
Intended beneficiaries should not witness your will.
The witnesses of your signature in your will are automatically excluded from benefiting from your estate.
The will is still valid, the witness will however forfeit their inheritance from the will.
Create a testamentary trust to care for your minor children.
Get a will and set up a testamentary trust. Make sure there is SUFFICIENT FUNDING for the testamentary trust to care for your children, for them to complete school, get an education and become productive members of society. Should you choose to not create this structure for the care of your minor children your money will likely go into the state-run trust for children.
Appoint a guardian for your minor children in your will.
This is someone whom you trust will look after your children should something happen to both parents.
The guardian should also be nominated as a joint trustee for the testamentary trust to ensure they get the funding they need for your children’s care when they need it.
Make sure there is cash flow for your family for six months at least.
In the event of death, all your bank accounts, unit trust investments and fixed deposits get frozen.
Your family will not be able to access the funds until your estate is finalised, this can take months or even years. If you were the main breadwinner how would you pay the household expenses, buy food, and pay school fees?
A Life income product could cover this need, it is inexpensive and pays out on a monthly basis for the term you selected, 12 months, 24 months or longer depending on your needs.
Make sure there is enough cash in your estate.
There are significant costs in winding up an estate, Estate duty, Executors fees, and Transfer fees to name but a few.
Should your estate be insolvent, some assets may have to be sold off at auction to obtain cash to pay for the costs…
A small life cover policy without any nominated beneficiaries should cover this need.
Be clear about what item or asset goes to whom.
This will prevent unnecessary conflict in an already difficult time for your family.
If you have any questions or comments please contact me.
Recently got divorced? Amend your will today.
If you do not amend your will within 3 months after divorce and die, it will be assumed that you wanted your ex-spouse to inherit as before the divorce.
If this is not what you want, you need to amend your will urgently.
Visit: https://gammawealth.co.za/2017/05/08/will-testament-tips for more.
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