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THE GREYTON POST
MAY /JUNE 2025
Estate Planning and Easy Mistakes to Avoid: It All Starts with an Updated Will D id you know that approximately 86% of South Africans have not made plans for their death? Setting up a last will frozen, and your estate may be charged thousands in unnecessary expenses. Claire Moorhouse
estate attracts as little tax as possible. A Will plays a major role in this process. An up-to-date Will correctly reflects your wishes. Even if you don’t have many assets, having a Will can save your beneficiaries time, money, and emotional stress. Without one, it could take months to sort out your affairs. If you pass away without a Will, you die ‘intestate’. The court then takes over, creating a Will on your behalf based on national laws and dividing your estate accordingly. During this time, funds needed for burial or everyday living may be
- A Will can help avoid family disputes and preserve harmony. - You can leave a lasting legacy by supporting a charity of your choice. - A properly drafted Will allows you to plan for
Why You Should Have a Will: - You have full control over who inherits your belongings, including specific items like cars or family heirlooms. - You can ensure a smooth transition of business interests or investments. - You can appoint guardians and make financial provisions for minor children. - Children from a previous marriage can be included in your estate plan.
and testament can bring thoughts of mortality, so many people tend to put it off. But planning your estate is one of the most important things you can do for your loved ones. The primary reason to plan your estate is to ensure your money and assets are inherited by the people you choose. Another key reason is to ensure that your
debts, costs, and taxes— avoiding the forced sale of assets to create cash. Putting a Will in place doesn’t need to be daunting. Seek professional help if needed, and make sure it is kept updated. It’s a powerful step toward peace of mind—for you and those you leave behind.
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