While your focus is usually on the day-to-day living needs of your family – keeping a roof over your children’s heads, ensuring that everyone eats properly, and that the children attend school – you are most likely riddled with mommy-guilt for not always being around to look after your children, to pay attention to the small things.
And even though it’s easier said than done, it takes some planning, and often a whole lot of creativity to achieve. Something else that takes some planning but which is usually pushed to the side in favour of everyday urgency, is a Will. So often, this is the last thing on our minds and yet it has such a significant impact on our children.
At Capital Legacy, we believe in making the drafting and finalisation of a Will, easy. We understand the time limitations you have as a single mom, yet we firmly believe that having a Will drafted is one of the most important things you can do, to provide for your children when you are no longer around – therefore we make it easy, for you.
A Last Will and Testament is the most important document that guides the executor after your death, on what should happen with your assets – to whom it should go and under what conditions. Furthermore, as a mom you want to ensure that your children will be able to continue living the lifestyle you have created for them, for their daily lives to be disrupted as little as possible considering they will already be dealing with the loss of you.
Other things to consider is who will manage the money on behalf of your minor children and who will look after them. You can provide guidance to the Executor on what you want to have happen, and what measures, such as a testamentary trust, you want to put in place to guard the legacy you leave to your children.
You can stipulate your wishes regarding all the above in your Will. By letting us know that you would like to have your Will drafted, we will send one of our knowledgeable consultants to meet with you where and when it is convenient for you. Be it at your work or perhaps the short time you have after dinner but before bed time to discuss your options, highlight your concerns and receive some guidance on a topic that is often foreign to most of us.
Some consequences, if you have no Will, to avoid are:
- Your estranged spouse could inherit some of your estate (if you are not yet divorced).
- If your children are younger than 18 years, your ex-spouse or the father of your children could have access to your children’s inheritance as he would be the sole guardian of your children.
- If your children are younger than 18 years, any assets for their benefit will be placed with the guardian or in the State-run Guardians Fund. It is difficult to access money from the Fund, and a house would be transferred to the guardian.
- The person appointed by the court to act as guardian of your children could be someone you do not trust to take control of their lives. To prevent this, you should nominate a guardian, of your choice, in your Will.
We don’t charge anyone to draft a Will, regardless of how complicated or simple it may be. You can take advantage of the wealth of knowledge that Capital Legacy has regarding Wills and Estate Administration and draft your Will with one of our expert consultants, at no cost to you. So, take action and ensure that the correct planning has been done so that your children are suitably cared for in the event of you no longer being here to look after them and their interests.
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This post and content is written, sponsored and provided by Capital Legacy.