Why is it important to have a will?
Events that will shape your life, such as marriage, purchasing property, the birth of a child or death of a loved one, a divorce or immigration, all lead to a change in personal circumstances which may require the updating or writing of your will.
To ensure that your estate devolves efficiently, cost-effectively and with minimal delay upon your chosen beneficiaries, it is vital that you draw up a valid Will and Testament- assisted by a qualified professional.
Your Will must take many things into consideration the most obvious, being the nomination of an heir as well as the appointment of an executor to manage your estate.
A Will trust can be created to control any assets being awarded to a minor and it is also possible to specify your choice of guardian in the event of your untimely death.
Other considerations may include:
• Will there be enough value in your estate to pay off your debts and simultaneously provide financial security for your family?
• Do you have any vulnerable business interests?
• Can estate duty be minimized?
• Is your mortgage bond covered by your insurance?
• If applicable, where will the funds come from to meet your obligations in the event of a divorce order?
• What are the capital gains tax implications?
• Is your Will correctly structured to cover any offshore assets?
If you have an inter vivos trust which is set up during your lifetime the trust deed may need to be reviewed in particular with regard to the appointment of suitable trustees to manage the trust after your death.
We can assist you
We have a Deceased Estate Administration department specializing in deceased estate administration and which offers a professional, efficient, personal and cost effective service. Our fees with regard to will preparation and safe keeping are competitive.
The firm
Makgale Law is a boutique law firm based in Rustenburg focused on serving a niche market, both business and select individuals. By understanding our clients’ needs and objectives we strive to deliver cost effective legal solutions for all business and personal matters. We are committed to developing close working relationships enabling us to succeed consistently on our clients’ behalf.