The Benefits of having a Will: Ensuring your legacy
- Distributing your assets
A very important benefit is the ability to distribute your assets according to your wishes. A Will allows you to decide who will inherit your property, money, investments, and sentimental possessions. It provides clarity and guidance, preventing potential disputes among your loved ones.
- Appointing the caregiver for your children
If you have minor children or a loved one with special needs depending on you, your Will affords you the opportunity to appoint someone you trust to care for them, ensuring their well-being and security.
- Taking care of your pets
Most of us consider our pets as part of the family, but neglect to provide for them in our Wills. Our pets are seen as nothing more than an asset in our legal system and if not specifically catered for, could end up in the care of a loved one who might be unable to adequately care for them.
- Avoiding intestate succession
If you die without leaving a valid Will, your estate will devolve in terms of the rules of intestate succession. This means that your assets and legacy will be distributed as determined by the provisions of the Intestate Succession Act, Act nr 81 of 1987.
- Minimizing conflicts and delays
Losing a loved one is a traumatic enough and without your written guidance, it could create conflict among the beneficiaries to such extent that the attorneys, advocates and Courts become involved. With litigation and no clear appointment of an Executor, unnecessary delays are created to finalise your estate and could be detrimental to the loved ones who are dependent on funds that they inherited from you.
- Reducing estate costs
A well-structured Will can help you reduce estate costs, ensuring that your beneficiaries receive the maximum benefit from your estate. With proper planning, you can make use of various cost-saving strategies for your families’ benefit.
- Peace of mind
By creating a Will that gives you the assurance that your loved ones are provided for, will alleviate your concerns about the future so you can focus on enjoying today.
By taking an hour to create or review your Will can save your loved one years of heartache and disagreements. Let us help you take this serious step toward the protection of your loved ones, by drafting or reviewing your Will.
Contact Leonie Nortje or Mpumelelo Dlomo at [email protected] or 012 012 5291 for any queries or assistance.