Valid will gives peace of mind

2017-09-27 06:02

It has become the norm for families to be at loggerheads about estate after the death of a key family member, with the question being: Who should benefit from the deceased’s assets?

That is why Jenny Gordon, senior legal adviser at Alexander Forbes, came up with five tips regarding the vital importance of the drawing up of a will.

“Thinking about your death is unpleasant,” said Gordon. “Should you die without a will, the law will decide who gets your assets, without any regard to your wishes or your family’s needs.”

Draw up a will

You do not need to hire a lawyer. Most banks, trust companies or financial advisers will draw up a will at a small fee, or none at all, if appointed.

Nominate an executor

You can nominate a person or company you trust as executor. Failing this, you could nominate a spouse and a company as co-executors.

Choose your heirs

If you die without a will, your assets will be distributed in terms of the Intestate Succession Act, and your closest living relatives will inherit.

Choose a guardian

If you are sole guardian, or both parents pass away simultaneously, you can appoint another person who has your minor children’s interests at heart to be the guardian in your will.

Keep your will safe

While institutions such as banks or financial service providers offer a safe-keeping service for a small fee, you are not obliged to use them. The most important element is that your original will is stored in a safe place and be easily accessible by your loved ones.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
NEXT ON NEWS24X

Inside News24

 
ADVERTORIAL
Competition regulation for a growing and inclusive economy

ADVERTORIAL: The Competition Commission of South Africa is conducting advocacy work in the South African automotive aftermarket industry and has gazetted a Draft Code of Conduct for public comment.

/News
Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.