A will is more than just a legal document – it’s a plan to protect your loved ones, ensure your assets are distributed according to your wishes, and provide clarity during a difficult time. Without a will, South African law decides who inherits your estate, which may not align with your intentions.
Despite this, many people delay drafting a will, leaving their families vulnerable to confusion, disputes, and financial uncertainty.
1. Ensuring your assets go to the right people
Without a will, intestate succession laws determine how your estate is distributed. This means:
Your assets may not go to the people you intended
• Family members may face delays and legal hurdles
• Beneficiaries may receive less than expected
A properly structured will allows you to control how your wealth is distributed, ensuring your loved ones are taken care of according to your wishes.
2. Protecting your loved ones financially
A will provides structure and security for your beneficiaries, helping them avoid financial hardship.
• Clearly outlines who receives what assets
• Ensures loved ones get access to funds without unnecessary delays
• Helps manage tax efficiency and estate costs
By taking control of your estate planning, you can ensure your family’s financial well-being after your passing.
3. Appointing guardians for minor children
If you have young children, a will allows you to nominate legal guardians who will care for them in the event of your passing. Without a will:
a. The courts decide who raises your children
b. Guardianship may not align with your preferences
A will gives you peace of mind knowing that your children will be raised by someone you trust.
4. Minimising family disputes
When a will is unclear or absent, disagreements can arise between family members, leading to:
• Legal challenges and costly court proceedings
• Strained relationships among loved ones
• Delays in asset distribution
A well-structured will reduces uncertainty and conflict, ensuring a smooth process for your family.
5. Tax planning and estate efficiency
A will isn’t just about who gets what – it’s also a tool for optimising taxes and fees.
• Reduces estate duty and capital gains tax
• Maximises tax-efficient wealth transfer
• Ensures your estate value is preserved for beneficiaries
With expert estate planning, you can protect your assets from unnecessary taxation, ensuring that more of your wealth goes to your loved ones.
The bottom line
A will isn’t just about wealth – it provides clarity, protection, and peace of mind. At Ternary Wealth, we help you structure your estate planning to ensure your legacy is protected, your wishes are honoured, and your family’s future is secure.
Don’t wait to plan for the future. Speak to us about drafting or updating your will today.
