Tag: Will

Succession and continuity planning is an essential endeavour for high-net-worth entrepreneurial families looking to safeguard their family businesses and the financial security of the next generation. Expert insights are provided on how to navigate this complex process effectively to ensure that families who run businesses can continue to thrive even if their circumstances change.

According to recent research from the Master of the High Court of South Africa, it’s estimated that 15% of South Africans who die have a will in place, which means that five out of six don’t. If you die without a will, your estate will be intestate. This can be a long and drawn-out process, and the assets from your estate will not be in line with what you wanted.

It’s no secret that women have had to work hard for their place in the working world and have had to overcome several obstacles over the years – not least of which has been this crazy new normal of lockdown, home-schooling, video conferencing, never-ending cycle of meetings and calls - where personal space and work-life seem to have morphed into one.

30 June 2021 marks the deadline for public comment on the Green Paper on Marriages. The paper aims to work towards the development of a new Single Marriage Bill that addresses marginalised communities and ensures all citizens are protected.

Money matters and finances continue to be a widely talked about subject. The pandemic has not only been onerous and taxing on everyone’s lives, but it has also created undue financial pressure on households globally. Instead of being overwhelmed by unnecessary expenses this year; look at ways or areas where you can save and invest your money. Unplanned finances can push people towards unnecessary short-term debt, which should be avoided at all costs.

While we will all face the inevitability of death one day, many of us find it scary to confront our own mortality. But good estate planning is a critical aspect of broader financial planning; without it, our dependants may be left in a precarious financial position. 

Recently, the importance of proper estate planning and specifically the importance of having a valid and up-to-date Will, has gained some attention. What is often not addressed is the unique estate planning needs of consumers at the various stages in their lives, such as retirement.

Given the importance of a Will as a key component of any estate plan, it's worth the relatively minor investment of time and money to ensure that you get it 100% right. After all, your Will plays a fundamental role in ensuring that the solid estate plan you've spent so many hours developing is put into action on your death, without undue delays, unexpected costs or negative impacts on those you care about.

Having a valid will in place is one of the most important things you can do for yourself and your family. A will can legally protect your spouse, children, and assets, as well as spell-out exactly how you would like things handled once you have passed on.

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.