The way in which some people tend to ignore the really important things in life is an interesting psychological phenomenon. Think about it this way. There are two things we are sure about in life, death and taxes. Taxes are somewhat predictable but death, unfortunately, is not. We seem to think that infirmity and death only occur in old age. This is either wishful thinking on our part, or perhaps we prefer not to think about it at all.
Failing to plan for one’s death won’t prevent it from happening. Many have not yet accepted that dying without a Will is a costly mistake which will negatively impact on everything one leaves behind.
A valid and up to date Will is a very powerful document which provides for much more than the disposition of your property after death. It allows you to speak when you are no longer able to. It provides for the welfare of your family by disposing of your assets as you intended and, very importantly, it affords you the ability to select an Executor of your choice. The Executor will be responsible for making all the arrangements laid out in your Will and handle all matters regarding your estate. Many select a spouse or other relative for this task but it is far better for you to choose someone who is knowledgeable of the processes involved and who is qualified to administer a deceased estate. Firstly, the administration process is very technical and time-consuming. Secondly, in terms of South African law, the Master of the High Court is not authorized to issue Letters of Executorship to a spouse or a relative if they are not assisted by either a practicing attorney, a chartered accountant or a Trust company acting as the agent of such nominated spouse or relative.
With this in mind, please remember that without a valid Will, the State will make decisions regarding your estate which will not always accord with the way you would have chosen.
In a nutshell, ensure that you have a Will and that if you do it is fully up to date. Rather leave a legacy of respect than one of resentment.
