What is estate planning?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.
A properly structured estate will ensure 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
If you need help drawing up a will, give us a call on +264 (0) 61 299 3612.
- You 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 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
- Ensure the document complies with all the legal requirements for a valid Will, as set out in the Wills Act 7 of 1953
- Inform your lawyer or spouse where the document is kept