THIS IS A BOOK THAT ANYONE WITH ASSETS SHOULD READ

Discretionary Living Trusts A legacy for generations

Written by Trust Specialist, Mervin Messias, it is the culmination of knowledge and expertise that has been acquired over many years’ study and practice of Trust law.

The author recommends the use of Trusts as part of estate planning because they provide solutions to many potentially complicated problems related to asset protection, succession planning, and disability protection. Many little-known benefits of Trusts are revealed to help protect your hard-earned wealth for generations to come. A Trust circumvents the whole process of winding up an estate, together with its potential delays, hassles and frustration.

In fact, a Trust deserves pride of place in any estate plan. It means business as usual, even after death, with no executor, executor’s fees or estate duty.

Read all about it!



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    Home Intro

    Drafting A Will

     

    Drafting A Will

    Drafting A Will

    Drafting a will is necessary, especially during the COVID-19 pandemic. Your legal, valid will stipulates which of your loved ones are going to get your assets after your pass away. If you pass away without a will, you die intestate. If you die without a will, your assets are going to be distributed according to the law of intestate succession. Your will is therefore an essential part of your estate plan.

    What should you know about drafting a will?

    When it comes to drafting a will, there are some useful points to keep in mind. Who can draft a will? If you are 16 years or older and of sound mind, you can draft a will. A will must be in writing, and needs to be signed by the testator or testatrix. A testator is a male who drafts a will. A testatrix is a female who drafts a will.

    Your will needs to have the following details:

    • Your full name and ID number, the details of your assets, the names of your beneficiaries, how you want to distribute your assets to your beneficiaries, and your executor’s name.
    • Your will has to be signed, dated and witnessed by two people. It’s important to note that the witnesses can’t be named as beneficiaries in your will.

    Consider these points.

    • Do you have minor children? Make sure to nominate a legal guardian for your minor children, in your will.
    • You need to know that children under the age of 18 can’t legally inherit. You can establish a trust for your minor children in your will, to make certain that your children have access to their inheritance. The trustees, who you can name in your will, are going to be responsible for administering the trust and making use of the funds in the trust to look after your children.
    • Nominate an executor who will carry out your will’s instructions.

    When can you update your will?

    Do you have an existing will? Would you like to update your will? There are many instances when you should update your will. Updating your will is necessary if there has been a change in your marital status. If you get married or divorced, you need to update your will. Update your will if there has been a change in your assets, for instance, you have purchased a home. Make sure to update your will after you have given birth to your baby.

    Contact me today if you would like assistance with creating or updating your will. I am available for meetings to discuss drafting your will. Having a valid will is the only way to ensure that your loved ones will inherit your assets after you pass away. I will take you through the will creation process, and answer any of your questions regarding your will.

    DR MERVIN MESSIAS

    JD (Juris Doctor) / BA, LLB (Wits) / TEP (Trust & Estate Practitioner)

    Book an appointment with my Executive Assistant, Jutleth Mkhonza. Email  julie@mmtrustspecialist.co.za or call +27 (0) 11 783 0108.

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