Wills

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Frequently Asked Questions

Why do you need a will?

If a person dies without leaving a Will, or if the Will is not valid for any reason, the beneficiaries are determined according to legislation, i.e. the Law of Intestacy. The Intestate Succession Act determines who the closest blood relatives are and distributes the assets of your Estate accordingly. This may differ from the people who you would have chosen to benefit from your Estate.

What else should you know?

Fedgroup Trust Administrators provides estate planning services and will assist you with planning for your Estate (everything you own and owe) in a way that will benefit you during your lifetime, and your beneficiaries after you pass away.

An up-to-date Will is the only means to ensure that your Estate is distributed according to your wishes. A Will is a necessity for all persons – especially those with children. For example, if you live with someone but are not married to the person, the Law of Intestacy does not recognise your partner as the beneficiary of your Estate, unless you left a Will naming them as beneficiary.

There also may be practical difficulties concerning the division of assets. In the event that you do not have a Will, Intestate Succession could determine that your Estate be split among your spouse and children. This becomes a practical problem where an asset like a house or farm is concerned.

What should be considered?

Have you planned for your children’s future in the event of your death?

Do you live with someone to whom you are not married?

Is your spouse able to take care of all the finances after you die?

Who is going to look after your children in the event of your death?

If you are divorced, did you update your Will?

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