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