The Importance of a Well Drafted Will

by Eduan Botha & Marishka van Zyl


Well Drafted Will

Most of you may not be aware that one of the services that Treasury Trust Services offer is to draft you your last will and testament.

THE IMPORTANCE OF HAVING A WILL

If you pass away without having a last will and testament, your assets will be divided according to the Intestate Succession Act, which increases your chances of delays in the administration of your deceased estate and may be prejudicial in the following ways: 

  1. You will have no say in the person being appointed as your Executor as your closest family will have to nominate the person, alternatively the court will make this decision.
  2. Many people believe that the surviving spouse will inherit everything when, in fact, the surviving spouse, together with the children of the deceased, will all receive a portion as they are the intestate heirs according to law. This also has the effect that you cannot leave certain heirs certain assets. 
  3. In the event that the minor heir is under the age of 18 years, their inheritance will be paid / received by the guardian's fund. This may sometimes lead to a cash flow problem for the remaining family and eventually the surviving spouse is urged to sell alternative assets in order to provide for the family. 

Why it is necessary to contact TTS today to draft your will 

  1. The TTS trust advisors have an overview and understanding of the Wills Act together with all relevant legislation. 
  2. We will recognize any legal problem that may arise with your current will and advise you on a proper alternative.
  3. The dedicated team at TTS drafts your will speedily and effectively.
  4. It is also vitally important for us to include a provision in the will that you donate back to the trust any trust loan account you might have, so that your executor may not be able to claim it from the trust as an asset in your estate.
  5. Another important point is that your will should contain the names and ID numbers of the person(s) you wish to have appointed as your replacement trustee(s) after your death. These are the people that will continue onwards with your legacy.

What TTS offer our clients?

  1. Free safekeeping of your will; 
  2. Applicable knowledge of new legislation that may affect your will;
  3. Reviewing and amending your will at any time.

SPECIAL LIMITED TIME OFFER

In order to encourage our clients to do the responsible thing, we decided that, for a limited time, we will draft new wills at a special price of R750.00. This is all inclusive and will be the price you pay regardless of the complexity of the will.

This offer will run from the 14th of October 2019 until the 26th of October 2019. Any instruction form that we receive within this period will automatically qualify for the reduced tariff.

Kindly contact your trust advisor today for an instruction form and to take advantage of this limited time offer on https://wealthmastersclub.com/services/trust-services




 
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