Wills and Trusts

Your estate refers to everything you own and everything you owe – from property and cars to investments and debts.

Estate planning is the process by which a person arranges and manages his estate so that he, his family and other beneficiaries may obtain the maximum benefits and enjoyment from the estate – both during his lifetime, and after his death.

We spend a lifetime acquiring assets and building an estate, so you want to be sure that your dependents are taken care of, with the least amount of stress, and with as little delay as possible, after your death. A properly structured estate will ensure, amongst others, that:

  • There is sufficient liquidity (cash) in your estate to pay for all outstanding debts and estate costs;
  • Provision is made for sufficient capital and income for your dependents;
  • Your estate assets are distributed according to your wishes, as contained in your Last Will and Testament.

The drafting of Last Will and Testament is the key to any estate plan. There are various reasons why one should have a Last Will and Testament, but, in short, the Last Will and Testament allows you to communicate your wishes and instructions to the world.

The following matters can be addressed in a Last Will and Testament:

  • You can appoint an Executor of your choice, to take care of the winding up of your estate and affairs after the date of your death;
  • You can nominate a guardian for your minor children;
  • The written instructions ensures a relatively uncomplicated way of distributing assets, plus, succession takes place according to your wishes;
  • A protection mechanism (Testamentary Trust) can be created in the Last Will and Testament.

The Last Will and Testament is not only an important document, but also a very powerful one. Therefore, make sure that the document complies with all the legal requirements for a valid Will, as set out in the Wills Act 7 of 1953. What is the use of having a valid Last Will and Testament if no one knows where it is kept? Make use of safe-custody facilities offered for keeping of important documents, alternatively, inform your lawyer or spouse where the document is kept.

For more information on any of our Estate planning services, kindly contact your Old Mutual Personal Financial Adviser or Broker. Alternatively, you can contact us directly:

Tel: +264 (0) 61 299 3612
Fax: +264 (0) 61 299 3781
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