What is a Will?
A will is a document which determines the distribution of your estate. Everyone over the age of 16 may draft a will and it’s important to keep your will up-to-date, particularly following a life stage change. These life stage events include occasions such as a change in your marital status, the birth or death of an heir such as the birth of a child or grandchild. Additionally, this can be an increase or decrease in your asset base such as the purchase of a new home, or your changing jobs, or reaching retirement age.
Why do you need a will?
Everyone should have a will, irrespective of your asset value, as it allows you to leave a legacy in line with your wishes. You work a lifetime to build up an asset base that carries specific meaning and sentiment. A will allows you to determine who will benefit from it and in what proportion. It avoids your asset base being passed down in terms of the Law of Intestate Succession (dying without a will in place) and allows your investments to be placed with an investment house for minor beneficiaries to maximize capital growth, rather than monies being placed in the Guardian’s Fund. Having a will in place generally reduces the time frame attached to the estate administration process and makes it easier.
How we can help
Contact
- 32 Peace Str Lex Numeri Building Tzaneen Limpopo 0850
- +27 15 307 3750
- info@fvln.co.za
