An essential part of Estate Planning is setting up a WILL, as this stipulates how you would want your assets to be dealt with in the event of your death. Your Estate refers to everything you own and owe; this includes your debts, property, cars, savings and investments. The key to proper estate planning will ensure that your estate is set up in a tax efficient way which benefits you during your lifetime and also your beneficiaries after your death.
This is an integral part of financial planning and it is worth seeking professional advice if you are planning to draw up a WILL. We are able to assist you in properly structuring your estate so that taxes like estate duty and income tax are minimized and also ensure that your estate is distributed according to your wishes, that there is enough cash available to pay off outstanding debts in order to protect your business interests and ensure that there is an income for your dependents and capital if required.
It is key that you appoint an Executor in your WILL, to be responsible for ensuring that the terms of your WILL are carried out and that your estate is being administered by abiding to the terms of the Act. Preferably the executor should be a professional person or a Trust Company.
What could happen if I do not have a valid WILL in place? If this is the case, in the event of your death, an executor will be appointed by the state, Intestate and the Laws of Intestate succession will apply, in simpler terms, the law of the land appoints beneficiaries according to the specific kinship.
Your last WILL and Testament is the most important documents you will ever sign during you life time.
Contact us or let us call you if you need assistance with drafting or reviewing your existing WILL or seek expert advice on any Insurance/ Financial need…
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