The three essentials of estate planning

Dying without having a valid will in place is a sure recipe for family conflict. Yet, according to statistics from the High Court, 85% of South Africans don't have a valid will. Unless you are part of the 15% who do have a will, National Wills Week, taking place from 16 to 20 September 2024, is a good opportunity to draft a will to ensure your assets are divided among your loved ones in the best way possible.

It is never too early to start estate planning, but it can be very complex, whether your family is a traditional construct, or a blended one. Felicia Hlophe discusses three essential steps to estate-planning success. 

1. Draft your will – and keep it up to date
   Having a valid will ensures that your estate is distributed according to your wishes. Without it, your assets will be divided among your family members in accordance with the Intestate Succession Act. This means your estate will be distributed according to a set formula and may limit your family members' inheritance.

Read full article on https://www.allangray.co.za/latest-insights/personal-investing/the-three-essentials-of-estate-planning/

September 23 2024 By Felicia Hlophe - Allan Gray