Create a heritage for your loved ones

The famous American entrepreneur, author, and motivational speaker, Jim Rohn, once said that part of our heritage in this society is to become financially independent.

In light of Heritage Month, we’re looking at how you can ensure this for your descendants through proper estate planning and your last will and testament.

What is a last will and testament???

In plain terms, a last will and testament is a legal document that stipulates what will happen to a person’s estate (assets and liabilities) in the event of their death. This is a vital document to have in place if you want to ensure that your estate plan is properly executed and helps your life’s endeavours to leave a lasting legacy for your family, loved ones, or business.?

People usually start considering having their will drafted at the crossroads of a significant life event. This can include:

?●?????Getting married.

●?????The birth of a child.

●?????Starting a business.

●?????Protecting an estate from paying excessive debts or taxes.

Amendments usually also occur with divorce, your children’s coming of age, or in the case of serious illness.

Is your last will and testament all set in case of an emergency?

Find out by answering the following questions:

1. Do you know how much executor’s remuneration your estate will have to pay?
2. Do you know if your estate will have enough cash to pay all its liabilities?
3. Do you know if there will be enough capital and income to provide for your family after your death?
4. Do you understand your current estate plan?
5. Does your will indicate a guardian for your minor children?
6. Does your will provide for the inheritance of minor children to go to a trust rather than to the Guardians’ Fund?
7. Does your current estate plan make use of the R3 500 000 discount for estate duty purposes?

If you answered “no” to any of the above questions, it’s time to make an appointment with your nearest Enslins Firm.

At Enslins, we believe in drafting estate plans that are simple to understand and highlight three critical areas including Executors' Remuneration, Estate Duty, and Cash Surplus/Shortfall on a one-page estate summary.

Our services have also gained much trust thanks to our knowledge of the applicable tax laws, good client relationships, and integrity.

Contact us today to ensure you leave a legacy and create a heritage.