Wills and Trusts

Take care of your family’s needs and protect your wealth for generations to come – even when you’re gone.

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YOUR LAST WILL & TESTAMENT
Your wishes, your will
Your last will and testament are formal written documents of your intentions when you pass away. It provides guidelines for the distribution of your assets in your estate so that you can take care of your loved ones when you are no longer there.
THE NEED FOR A WRITTEN DOCUMENT
Protect your loved ones’ legacy

In South Africa, there are strict requirements for drafting a will. Dying without a valid will means that your loved ones may not benefit from your estate, and they could be disinherited if they are not catered for in terms of the intestate laws (that is, laws pertaining to dying without a valid will).

THE NEED FOR CHANGE
When to update your will

Similar to changing your financial plan when life-changing events occur, it is equally, if not more, important to update your will when any significant life events* occur. These include:

  • Birth of a child
  • Marriage
  • Divorce
  • Death
*This is not an exhaustive list.
WHAT IS A TRUST?
A well-structured plan to take care of your family needs

A trust is a means to take care of loved ones (beneficiaries) who are unable to do so for themselves, such as minors, mentally incapacitated or disabled dependants. There are also those who require assistance to manage money and assets.

Trusts are also used to protect growth assets such as property and shares from growing in one's personal name, to minimise taxation. However, a trust must be carefully considered and implemented to avoid unnecessary taxes and costs defeating its intended purpose.

HOW IT WORKS
A caretaker known as a trustee

The founder transfers property into a trust for wealth creation and protection for the benefit of named beneficiaries. A third party, known as a trustee, administers the trust on behalf of the beneficiaries in accordance with the trust deed.

The trust deed can be amended with the approval of the trustees who are independent and acting in the best interests of the beneficiaries.

WHEN TO USE A TRUST
Considering a trust 
A trust structure should be considered to protect minor children and disabled family members’ futures, and to accommodate for growth assets to be utilised for generational wealth.
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