When last did you review your Will, or have you drafted a Will?
When last did you review your Will, or have you drafted a Will?
As we start the new year, there is no better time to take the first step in planning ahead for the financial well-being of your loved ones, while you still can. One of the things you cannot control is how or when you will pass away.
A Last Will and Testament is the final document you will create outlining and detailing your last wishes. Make sure that what you have worked so hard for will be left to those who mean the most to you.
It is also important to review your will on a regular basis, at least annually. However, if you are acquiring assets regularly, it is recommended that you update your Will every six months. A change in your personal circumstances, such as marriage, the birth of a child or divorce can have a significant impact on your last wishes. Also ensure that someone you trust is aware of where to find important documentation, especially your Will.
Recent research conducted by life insurance company 1Life indicated that 70% of their clients do not have a Will in place. Furthermore, the survey revealed that a considerable number of people don’t know what a Will entails, where to get one drawn up and, and don’t deem it necessary.
Everyone needs a Will in place, and drawing up a Will does not have to be a complicated or expensive exercise. You simply must be of sound mind and legal age, and you must sign your Will in the presence of two or more competent witnesses who are not a beneficiary of your estate.
At KCE Estate Planning and Wealth Management Solutions, we will ensure your wishes are conducted in the most efficient way possible.
Contact us today for assistance with drafting or reviewing your Last Will and Testament at wealth@kceconsulting.co.za.
| What we consider when assisting you with drafting your Last Will: |
| – Professional guidance to ensure your will is executable /wishes can be carried out as intended |
| – Avoid the implications of a poorly drafted will |
| – Ensure your will complies with legislative requirements |
| – Specifying guardianship for your minor children |
| – Protection of inheritance of minor children or other dependants who are unable to manage their own financial affairs |
| – Assess assets across multiple jurisdictions and separate wills |