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At the heart of your estate planning is your will (“Last Will and Testament”). Without it, you lose your right to choose your heirs, to choose the executor of your estate, and to choose who will look after your children and your family trusts when you die. But there’s lots of online chatter about other types of “will” such as offshore wills, digital wills, business wills, ethical wills and living wills. What are they and do you really need to put them all in place?
“I can't afford to die; I'd lose too much money.” (George Burns, comedian) At the heart of any estate plan lies your will. Pair it with a file containing all the information and documents that your executor and heirs will need to wind up your estate, and you’ve laid a...
Your will must always lie at the heart of your estate planning. But don’t concentrate solely on the financial wellbeing of your family after you are gone. The personal legacy you leave them is also important. It focuses on your family’s values, history and heritage, supporting your heirs in living their lives to the fullest while preserving and enjoying the material wealth they inherit from you. But how do you create a personal legacy that will last for generations, and how does this fit into your overall estate planning? We share some practical suggestions on how to get started…
“Let's choose executors and talk of wills.” (William Shakespeare in Richard II) You may have read one of the many online articles about an electronic will being validated recently by the High Court. Don’t be misled into thinking that electronic wills are now valid as...
“All that lives must die, passing through nature to eternity.” (William Shakespeare, in Hamlet) Master’s Office records suggest that less than a third of us leave behind a will when we die. That’s astonishing, given the fact that death is one of the few absolute...
“An ounce of prevention is worth a pound of bandages and adhesive tape.” (Groucho Marx) It’s a perennial topic of dispute in our courts. A couple lives together, sharing the same roof and everything else in perfect happiness and harmony. Until it all goes south....
“Only put off until tomorrow what you are willing to die having left undone.” (Pablo Picasso) If you own assets outside South Africa, you may have wondered: Is my local will enough? This is a question many South Africans are asking, and the answer will depend on your...
“When the hurly-burly’s done, when the battle’s lost and won.” (One of the witches in Shakespeare’s Macbeth) Another year draws to a close! If you’re taking a break, now’s a great time to get started on an estate plan – or to update your existing one. Estate planning...
“The only person who sticks closer to you in adversity than a friend is a creditor.” (Unknown) You’ve done everything you can to leave your loved ones financially secure after you die. You’ve left enough assets to set them up in their own lives, made a valid will...
“From small mistakes come great catastrophes.” (Justin Cronin) We’ve all seen how even the smallest mistake can have huge consequences down the line. A recent High Court spat between siblings over a poorly-drafted will confirms once again that when it comes to...