Tag: Guardians Fund

Between 70 and 80 percent of South Africans do not have a will to protect their loved ones in the event of their untimely death. Unfortunately, this will not only burden the surviving family members with unnecessary emotional and financial stress but will also delay them gaining access to their rightful inheritance.

Estate planning means making a plan for taking care of your nearest and dearest and dealing with everything you own and owe when you pass away. A will or testament is a legal document where you leave instructions on how you want your family to be taken care of, and who will inherit assets like property, jewellery, cars or investments that you own.

Many people are often tempted to either draw up their own will or to change an existing will themselves, without the help of a skilled professional. However, there are many pitfalls ready to trap the unwary should you follow this route.

In South Africa we are fortunate to have freedom of testation, or simply put, if you are 16 years and older, you can choose whom the beneficiaries of your earthly possessions will be after your demise. As such, it is important that your Will is properly executed.