Tag: Last Will and Testament

Although cryptocurrencies are on an upward trajectory in South Africa, a cryptocurrency wallet is worthless without its key or password. That was the reality for a 24-year-old Bitcoin-holder in 2021, who, after mining 20 Bitcoin for more than ten years when the cryptocurrency was still only worth a few cents, lost his wallet key and access to around R14.18 million in Bitcoin.

The passing of a loved one is always a traumatic experience. Not being prepared for the financial realities can add more anxiety to an already painful and stressful time in your family’s life. According to Statistics South Africa, more than 70% of South Africans don’t have a last will and testament. I suggest that you get your estate plans in order as soon as possible. You never quite know when your time is up.

When considering purchasing property overseas make sure you have the correct Will to cover your offshore assets.

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.

Right now, over 4.14 million people around the world have succumbed to COVID-19 - and over 84,000 of those deaths happened right here in South Africa. As we navigate a third COVID-19 wave, South Africans are starting to come to terms with their own mortality.

The last few months have been nothing short of a whirlwind of unprecedented events for our country. As a nation we have had to navigate another level 4 lockdown and watch helplessly as friends and family lose their assets and experience the stresses associated with the recent destructive riots.

We spend all our time trying to create wealth and building our legacies for our loved ones, and yet so few people dedicate any time to estate planning that creates clarity and certainty for when we’re gone.

If there is one thing that the national lockdown has highlighted, it is the need for South African law to recognise electronic signatures to authenticate important legal documents such as Last Wills and Testaments.

Alex Simeonides | Founder and CEO | Capital Legacy | mail me | Whether it’s Bitcoin, Ethereum, Ripple, Litecoin or Monero, your cryptocurrency fortune could be lost forever if...