14/12/2020
ADVANTAGES OF A LAST WILL AND TESTAMENT
One of the inescapable truths about life is that eventually we will all die. Another inescapable truth is that during our lives we accumulate and collect that have to be dealt with after we die. Therefore having a written will to your bequest has the following advantages:-
1. Avoids intestacy
-You can leave your property to those you choose. By having a formal Last Will and Testament written, you can avoid the laws of "intestacy "- dying without a will and fully control the distribution of your estate upon your death. If one dies without a Last Will and Testament the statutes will control the estate distribution.
2. It is easy to create and maintain
- You can amend it. Circumstances change, and so your will. You can tailor make your will to reflect you current assets, beneficiaries, wishes and aspirations.
-You can revoke it. If you find that your will no longer represents your interests you can revoke it and entirely start over.
3. You choose your executor or executrix
Through a will you have the liberty to choose an executor or executrix of your own choice whilst you are still alive. The executor and or executrix will be in charge of making sure that all your bequests are carried out according to your wishes. Without a will, normally the relatives choose an executor or executrix through an edict meeting convened by the Master of the High Court / Assistant Master.
4. Provides protection for the minor children.
-A Last Will and Testament provides the ability for you to protect minor children and to provide for them in the event that you die when they are young. You can select a guardian of your children through a will in case you die, the guardian will take care of the children. Another advantage of a will is that you can set a testamentary trust in a Last Will and Testament that will look after your beneficiaries and dependents when you die.
We can help you to have a written Last Will and Testament today!
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