Lamprecht & Co / Kie Accountants and Bookkeepers - Products
WILLS AND TESTAMENTS
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Executors of deceased estates
Would you like to have a will drawn up free of cost anywhere in South Africa, look no further. We shall also keep the original document in safekeeping for your convenience. We can also act as the executors of your estate at a fee much less than the prescribed executors fee.
Wil u graag n testament laat opstel vry van enige koste enige plek in Suid Afrika, sal ons u graag van diens wees. Ons sal ook die oorspronklike dokument gratis vir u gerief in veilige bewaring hou. Ons kan ook optree as die eksekuteurs van u bestorwe .boedel teen n fraksie van die voorgeskrewe eksekuteurs fooi. Will is a legal
A Will is a legal document containing your written instructions for how your property/assets will be distributed and how your dependents will be cared for in your absence. Your assets may consist of bank accounts, brokerage funds, vehicles, real estate, items of sentimental value, and other personal property.
In a Will-based estate plan, your Last Will and Testament will cover four important points:
1. Who will serve as your Personal Representative/Executor;
2. What powers your Personal Representative/Executor will have;
3. Who will be your beneficiaries (those who will inherit your property); and
4. How your property will be transferred to your beneficiaries.
If you have minor children, your Last Will and Testament will also cover who serves as guardian for your children.
What Should I Consider When Making A Will?
• Who should receive my property? In what proportions? If there are children, at what age(s)? If a person you wish to name to receive a share of your estate dies before you, who should receive that share?
• Who should be named as guardian of my minor children? If you have minor children you should also consider a Child Protection Plan which will name temporary and permanent guardians for your children.
• Should a Trust be created in my Will for my spouse, children or others?
• Should insurance proceeds be payable to a Trustee named in my Will? Spouse? Children?
• Who should I name as Personal Representative? Successor Personal Representative?
• Do I expect to inherit property from a parent or others, thereby increasing the size of my estate and creating the need for more careful planning?
• Can I lessened or avoid estate taxes?
Your will therefore determines the future of everything that you've built up through the years – and your heirs can be directly disadvantaged if you don't plan correctly. Estate duty, income tax, VAT and capital gains tax can take a big chunk out of your estate if your estate planning is wrong.
Why a will must rather be drafted by a professional institution
Your will is probably one of the most important documents that you can draft during your lifetime. A will must comply with certain formalities, otherwise the document (or part thereof) can be declared invalid and inexecutable. Also, a will is drafted according to each person's unique circumstances and needs, therefore it is not advisable that standard wills/will templates be adjusted and then be used as a will.