MOST ARE WILLING TO PAY MORE FOR A MEAL THAN A WILL
From our experience, it would appear that many are prepared to pay a couple of hundred bucks to eat out, yet squirm at the thought of paying an expert to draft their last Will and Testament, a vital document that speaks for them when they are gone.Perhaps the reluctance is more from the uncomfortable fact that we don’t ever really want to die, but unfortunately, it is a reality and the best that we can do is ensure that our loved ones don’t have something else to worry about in our absence.
A wide range of organisations and service providers, including attorneys, banks, accountants and financial advisers, draft these crucial documents.
In short, your will articulates the manner in which you would like your assets to be divided and used to provide for your family. The power of the will is the power to provide immediate answers to hard questions. It has the power to ease the reality of your passing and help your closest and dearest gain closure. It has the power to represent you; if it’s been written properly.
Anyone with dependants or with assets they wish to leave behind needs to take the process seriously and not simply focus on getting a will drafted as cheaply as possible. Many estates are left with unresolved issues because the drafter of the will performed an inferior service.
Regardless of whether you are paying for your will or if the cost is included in other fees you are paying to your bank or financial advisor, it is vital that you ensure it is sketched by a qualified expert in will drafting, estate planning and the related tax concerns.
Furthermore, don’t be misled into thinking that a relatively small estate necessarily requires less complexity or is easier to wind up when you pass on, than a large estate. A R3.5 million estate with private company shares, children from two marriages and a usufruct attached to a property would be more complex than a R20 million estate with equities, cash and a house.