According to our fiduciary partner the following 10 points are important to consider when drafting a last will and testament:
- Only an original and signed will is valid.
- Your appointment of a family member or friend as an executor may be declined by the High Court, thus the co-appointment of an approved, professional is paramount.
- Your will only deals with life cover that pays into your estate, thus your Will and life cover beneficiary nominations must complement each other.
- If you do not create a testamentary trust for the receipt of your minor children’s inheritances, their money will go to the Government Guardian’s fund. An existing (Inter Vivo’s) trust can be nominated, but this structure should already be managed in strict compliance with the Trust Property Control Act.
- Guardian nominations are only applicable when there is no surviving biological or legally appointed parent.
- Guardian nominations are only a wish, these nominations should be aware of and happy to accept such an appointment.
- No-one can inherit until all debts, fees, taxes and marital contract claims are settled, regardless of what your will says (even if you have no will).
- You can use your will to document your last wishes, but these are only wishes and not always enforceable.
- If you state that you wish to be an organ donor in your will, then you must still register with the Organ Donor Foundation for this wish to be given effect.
- You cannot cater for every single eventuality, so it is usually better to keep your will simple and straightforward, revising and amending as your circumstances change.
We will gladly review your current Will Document to see if your wishes can in fact be acted upon or draw up new ones.
Contact us for a free Will and Testament appointment at work or home.
No charges to store or amend your Will! Taylor Made with cutting edge technology.
Save on : Executors Fees, Testamentary Trust Fees, Conveyance Attorney Fees and Non-Estate Asset Fees.
Why draw up a new Will and have it safely stored?
The cases are limitless, but lets look at a few scenarios.
You are looking to get married or divorced/seperation but your Will is still the same while you life wishess have changed. Having a Will and Testament on your PC or in your Drawer can result in easy disapearance when the court require the original.
You get children or your parents, sublings died while they are still on your Will.
Your assets or financials changed or you started a new business.
These are all triggers to get a new Will and Testament or at least update it.
Banks may charge a fee for safe storage, we don’t!