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Last Will and Testament  -  Consider this....

Two things you can never escape ....  Death and taxes 

I once spoke to a client about drafting his Last Will and Testament.  His reply was breath taking:  "If you make a Will, you say that you are ready to die.  I am not ready to die yet." 

Ever thought when will it be your turn to die?  The mere thought of it is traumatic, uncomfortable, yet unavoidable. 

Consider this:

  • Do you have children?  In terms of our legislation, a minor child is not allowed to "directly inherit".

  • This means that any inheritance of a minor child must be sold, thus "converted to money" and then paid to the Guardians Fund. 

  • The children won't get Ouma's prized antique mantelpiece or the house where they grew up.  Everything without exception must be sold and the proceeds deposited with the Fund.  Can you live with such a thought?

  • In practice it is virtually impossible to get money from the Guardians Fund for the day to day maintenance and expenses of a school going child.

  • A solution is to create  a Testamentary Trust in your Last Will and Testament to safeguard the inheritance of your children and to see to their growing needs.

  • Do you want to protect your hard earned assets from being squandered by an opportunist who decides to marry your surviving spouse?  Where there's a Will there's a way....

  • After your death, someone must be appointed by the Master of the High Court to deal with your assets and your liabilities, to communicate with your surviving spouse or your children.  Who will that be?  Will he be a caring and understanding?  In your Will, you get to appoint that person.

  • What will happen if you and your spouse die together?  Who will take care of the children?

  • And so the scenarios can continue. 

  • Bottom line is:  Get your Last Will and Testament drawn by a competent person who understands your unique circumstances.

Need more info?  Contact us for information about the formalities for a valid Last Will and Testament, handling of a Deceased Estate, the Executor, Heirs, Trustees, the Testamentary Trust and lots more.

 

   

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Connie Marais Attorneys

Our difference

is your advantage

 

The views expressed should not be regarded as specific legal advice, as the circumstances may differ from one individual to the other. 

For specific advice regarding your individual circumstances, contact us HERE by e-mail, or schedule an appointment with an Attorney.

 

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