Wills & Estate Planning
A will is a document which specifies who you want to leave your assets to on your death. A person who is 18 years and older and who has legal capacity at the time of making the will is able to draw up a will. A will is only considered valid if it meets certain legal requirements, if not, the Master of the Supreme Court will reject the will. It is therefore advisable to obtain legal advice prior to drafting your will.
In the absence of a valid will, should you die, you die intestate. This means that inheritance is according to Succession Law and your heirs may not inherit what you wish them to inherit. A will enables you to specify who you wish to be guardian of your minor children in the event of you and your spouse’s simultaneous death. It is important that your will is modified after the birth of a child, the death of your spouse or in the event of divorce.
If you have minor children it is imperative that we create a mortis causa trust in your will to determine who will look after your children’s assets and monthly expenses.
Etienne Bedeker on the importance of a will & Testament.
Definition: An estate, in common law, is the net worth of a person at any point in time alive or dead. It is the sum of a person’s assets – legal rights, interests and entitlements to property of any kind – less all liabilities at that time.
Etienne Bedeker also assist our clients as executors or representative of the executor to report and finalise deceased estates at The Master of The Supreme Court.
Every deceased estate requires an executor- someone who is responsible for reporting the estate to the Master of the Supreme Court; opening of a bank account in the name of the deceased estate; winding up the deceased estate; payment to all creditors and the division or sale of assets and the payment to heirs. Should you fail to appoint an executor in your will, the Master of the High Court will choose an executor and this can delay the liquidation and distribution of your estate.
Contact Etienne Bedeker for Will and Estate Planning services.