IS YOUR WILL UP TO DATE
Why you should leave a Will
Most individuals avoid the sensitive subject of drawing up a Will. It is often assumed to be one of the most uncomfortable and unsettling tasks to approach, but death is inevitable, and your Last Will & Testament is one of the most important documents to be drawn up during your lifetime. It not only contains your final wishes about the assets you have accumulated over the years, but most importantly, it provides financial peace of mind to those you leave behind and are financially responsible for. By leaving a will you ensure that your assets are disposed of in accordance with your wishes after your death. This privilege is called "freedom of testation".
An updated Will is a concrete measure to avoid unintended consequences. Other benefits of having a Will, includes the ability to appoint guardians for any minor children, keeping a helpful record of assets that surviving relatives might not be aware of, limiting taxes payable on deceased estates, important decisions regarding medical care should a person be unable to communicate his or her wishes.
Who should have a Will
Anyone who is at least sixteen years old should consider having a Will, provided that they have the mental capacity to do so. Everyone who owns assets of any kind, whether fixed or movable should have a Will drafted.
How Ambiton can assist you
Often a will is invalidated because the person who drafts it does not have the necessary legal knowledge to ensure that the requirements of the law are met.
At Ambiton, our clients enjoy the benefit of our experience in drafting and storing their Will, at no cost to them. Our dedicated Estates department will take the time to understand your specific needs and ensure that your wishes are correctly fulfilled on your passing.
National Wills Week serves as an annual reminder to implement our Will should we have none, or to update our existing Will to reflect our current wishes.
Our expert services include Estate Planning, the Drafting of a Will, Estate Administration and the ongoing administration of trust assets.
What happens to your estate if you die without a valid will
Should you die without leaving a valid will, your assets will be distributed according to the provisions of the Intestate Succession Act. The provisions of this Act are generally fair and ensure that your possessions are transferred to your spouse and children.
However, the following problems may arise if you die without leaving a will:
• Your assets may not be left to the person of your choice.
• It can take a long time to have an executor appointed. The executor who is appointed may be somebody you may not have chosen yourself.
• There can be additional and unnecessary costs and delays.
• There could be unhappiness and conflict amongst members of your family because there are no clear instructions on how to distribute your assets.
Rest assured - AMBITON can help. Our professional team of experienced and qualified specialists will ease the burden of estate administration.
Whether -
• AMBITON has been nominated as executor in terms of a will,
• a family member has been nominated as executor and requires assistance, or
• even if the deceased did not leave a will at all,
we can help you through this difficult time
Is your will up to date
Having a will in place, is already a mammoth step to having piece of mind, however, it is ever more so important to do at least an annual review of your Will. In addition to that, please remember to make the necessary amendments to your Will when there has a major change to your financial or family situation.
Our lives change drastically from time to time, and it can become impossible to remember to update your Will when something changes. Enter an annual reminder on your calendar to review your Will to ensure that your wishes are correctly fulfilled, and your heirs correctly protected on your passing.
OUR PROMISE
You can trust AMBITON with:
• Planning the financial security of your loved ones after your death.
• Making sure that your specific wishes are correctly set out in your Will - tailored to your specific circumstances.
• Ensuring prompt and effective administration of the estate once you have passed away.
• Safekeeping critical documents, such as your Last Will & Testament, during your lifetime.
To reap the full benefit of good estate planning - and to avoid the many pitfalls - it is essential to obtain advice from a skilled specialist or an advisor with access to such a specialist.
Please contact Ambiton on 041- 581 7170 or e-mail: marketing@ambiton.co.za for professional advice.
