Last Will & TestamentAre you prepared?
You should never underestimate the value of composing a last will and testament in order to provide for your loved ones on death.
It is always a tragedy to lose a loved one, and you wouldn’t want to be left in a time of sorrow having to deal with the troubles attached to a beloved’s passing “intestate”, that is without a valid will.
Here are some of the benefits of having a legal and valid will:
- Protects your family’s financial future.
- Protects the inheritance of children under 18 and designates a guardian.
- Ensures that your wishes are carried out.
- Avoids higher estate administration costs.
- If you own a business, a Will protects your family against debt liability.
- Wills are cheaper than trusts and can be updated at any time.
- A Will is a document recognised by law as the expression of your wishes.
- You can save on estate duty with proper planning
Any person of 16 years and over is free to make a will in order to determine how his or her estate should devolve or be distributed upon their death. Should a person die without a will, their estate will devolve in terms of the rules of intestate succession and, contrary to popular belief, the estate will not be forfeited to the State or government.
The law relating to intestate succession is governed by national legislation, particularly, the Intestate Succession Act 81 of 1987. Similarly, if your will is found to be invalid, the estate is to be administered in terms of intestate succession legislation.
There are many requirements for concluding a valid will and with our help and legal advice, it is easy and important to execute a will that is valid and that will leave your loved ones with peace of mind that your wishes will be executed as you would have wanted.
If you require assistance in concluding a will, please contact Coetzee Attorneys to assist you and to ensure that your interests and those of your family and loved ones are protected.