No doubt your inbox was full of ‘free wills’ and ‘get your estate in order’ reminders during the month of September. Drafting and updating your will is a task we all know is a necessary one, but one which we really don’t want to think too much about – kind of reminds us of our immortality. However, not having a concrete plan in place and the necessary documentation can lead to legal issues down the line and more importantly cause considerable anxiety and grief for those left behind having to wade through a disorganised filing cabinet (or shoe box) and the issues of an unresolved estate.
So, if sorting out your affairs has been nudged to the bottom of your to-do list then definitely take a look at our Estate Planning Folder which guides you through all the information and documentation required by your spouse or loved ones to take control of your affairs in the event of a medical emergency or death. This folder will help your family to be prepared for any eventuality.
Unfortunately, this is not a one-time undertaking. It must be said that your circumstances, assets and status can change significantly from one year to the next; terms and conditions, legislation and administrative changes also occur across the financial, insurance and legal industries, so it is wise to have an annual meeting with yourself, a spring clean if you will, to review and rework the administration on your personal estate, and adjust the supporting documentation where needed – your will, life cover, trusts, medical aid, insurance policies etc.
It is often best to sit down with an attorney, legal practitioner or specialist estate planner who can explain the processes of executorship and the time considerations of winding up your estate and who can cover all possible solutions and outcomes.
Time for that spring clean!
Yours in law