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Wills & Estate Planning

Happy Mother with her Child

Will and Testament

Estate planning comprises of two important sections in order to effectively execute your wishes if you pass away.
A last Will and Testament is a legal document that details how your estate should be divided when you pass away. It is the most important document that you will draft and sign because it sets out your wishes of how you would like to distribute your estate when you die.  It sets out :

  • Your appointment of an Executor to distribute and action your wishes of your last will and testament

  • The responsibilities and powers your executor will have

  • Who will inherit what

  • How your beneficiaries will inherit

  • If you have minor children: who will serve as their guardian until they become adults

By making sure that your last will and testament is in place, valid and up to date you can :

  • Protect your family's financial future and your legacy

  • Protect your family against debt liabilities from your business

  • Save on estate duty

Estate Planning

Estate planning involves having a consultation with an advisor or lawyer to discuss the implications of your decisions on how to dissolve your estate.  An Estate Duty Calculation is done taking into consideration the bequests made to your spouse, children and other beneficiaries and shows you the cost implication of applicable taxes and liquidity in your estate.  It allows you to manage your assets while you are alive and distributing these assets when you die.

Estate planning considers:

  • Drafting a legally Binding Last Will and Testament to make sure that your assets are distributed according to your wishes.

  • The forming of either testamentary or inter-vivos trusts to manage your assets effectively to the benefit of your beneficiaries.

  • Restructuring of your assets by separating your personal and business interests.

  • Implementing buy and sell agreements between business partners to ensure not only business continuation but also protect the widow if the partner dies or becomes disabled.

  • Considering all the applicable taxes and duties so that you can effectively plan for it.

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