This week, 7 – 11 October, is National Wills Week. Many people don’t have a Will or know the details regarding the specifications of implementing a Will. We’ve addressed some of the questions you may need answered.
Q. Did you know that 80% of South Africans don’t have a Will? A. If you’re one and you need help with making your Will contact the Children’s Hospital Trust. We will put you in touch with an attorney who will give you free guidance, only during National Wills Week October 7 – 11.
Q. Is it really necessary to have a Will? A. Without a Will, the state will determine how your estate will be distributed after your death. A Will ensures that your property will be distributed as you wish and handled by the person of your choice.
Q. Who should make a Will? A. Every person over eighteen years of age, having real and personal property, should make a Will.
Q. Who should be named in a Will? A. Other than the people who you want to receive your property, you should name both an executor and an alternate executor. If you have minor children, you should also appoint a guardian and/or trustee to handle their funds. You can also nominate a charity of your choice and this could help save you estate duty.
Q. What is an executor and who can serve as one? A. The executor is the person who will administer the estate. An executor should be any responsible adult person of your choice.
Q. Does a Will save me Estate duty ? A. If you have a Will, you may take advantage of the opportunity of tax and estate planning.
Q. How often should a Will be updated? A. Your Will should be updated when there are changes in financial, family, or personal circumstances, such as birth, death, marriage or divorce. Wills should be updated to take advantage of changes in tax laws.
Q. Who should draft a Will? A. We recommend that you always consult an attorney in order that your Will may be drawn correctly according to South African law.
If you need help with making your Will contact the Children’s Hospital Trust Circle of Life programme. We will put you in touch with an attorney who will give you free guidance. Only during National Wills Week October 7 – 11.
Name the Children’s Hospital Trust as a beneficiary in your Will and help save the lives of future generations of little patients. Leave a living legacy and join our Circle of Life. Call Liz Linsell on +27 (0) 21 686 7860 or email firstname.lastname@example.org