Seven reasons why you need a will
Dying without a will is one of the worst mistakes you can make, as it can add to the stress and pain of your loved ones after you are gone.
Less than 15% of South Africans have a will when they die. This is according to a report by the PPS insurance company.
A will, also known as a last testament, allows you to make decisions that will affect your estate and your loved ones after you die.
Having a will in place will ensure that your estate goes to the people you really want to benefit from it, and it can even save your family the heartache of fighting over distributing your belongings.
In South Africa, National Wills Week takes place from 16-20 September 2024 to highlight the importance of ensuring that you have nominated the right people to inherit your estate.
READ: Baby Brunch podcast: The importance of a will - protect your family & leave a legacy
Seven reasons why you need a will:
- You have worked hard for your estate and it is only wise to ensure that the right people benefit from it.
- If you die without leaving a will or a valid will, your estate will devolve according to the Intestate Succession Act and that might not be in the best interest of your family.
- It lowers the conflict that might arise between your loved ones.
- Ensures your children do not suffer even though they could have benefited from your estate.
- It gives you peace of mind.
- It is your last way of letting your family know you love them and want the best for them.
- A will allows you to nominate a guardian for your minor children in case you and their other parent passes away at the same time.
READ: Here is how to get an attorney to draft a will for you for free
Read more about wills, what needs to be included, and how to ensure you avoid common mistakes here.
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