When drawing up a will consider this...3/6

By Drum Digital
09 February 2014

Drawing a will is a simple exercise.

According to Geraldine Macpherson, Legal Marketing Specialist at Liberty, “Many people don’t realize the importance of having a will. Macpherson advises that there are a few key things to consider when updating your will: Understand the implications of your marital status on your assets. For example if you are married in community of property, you and your spouse own your assets together and these would have to be shared on death, before any bequests are honoured. 

If you are married in terms of the accrual system, you may require liquidity in your estate to settle an accrual claim.

Alternatively you may be in a ‘common law’ partnership which may also have implications on your planning. When drawing up a will consider this...

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