A will gives you the opportunity to indicate how and to whom your assets are to be distributed after your death. If you die without a will, your assets may not end up with the people you would have wanted them to. A will also allows you:
- Comprehensive estate planning suited to your unique needs
- Easy and comprehensive estate administration
- Protection and management of your assets
- Distribution of assets according to your wishes
- Nomination of the responsible person/institution for winding up your estate (the executor)
- Nomination of a guardian to look after the affairs of any of your minor children
- Protection of benefits to beneficiaries by way of a testamentary trust
- Nomination of the responsible person/institution for administering any testamentary trust (the trustee)
- Assistance in cases where the testator/testatrix was involved in more than one relationship or marriage
- Adequate liquidity in the estate to meet commitments during the winding-up period
- Determining estate duty and other taxes and ensuring that your estate is set up in a tax-efficient way
- For business owners, to ensure the business succession is in place so that your business continues to run smoothly
