3 Things Your Family Will Thank You For

We all want to leave our families with good memories, not a mountain of paperwork and a financial treasure hunt. When it comes to estate planning, preparation is key. Estate administration can take years to finalise, so putting a few simple things in place now can make a big difference later. 1. Have a Will Make sure you have a valid, up-to-date Will that clearly sets out your wishes. With “wet" signatures, no electronic signatures and witnessed. 2. Appoint an Executor Choose someone you trust who is organised and capable of handling the responsibility of winding up your estate. Speak to them beforehand so they know what to expect. This can be a legal practitioner, it need not be a family member. 3. Create a Life File Think of it as a roadmap to your financial and personal affairs. It can save your family and executor countless hours of searching for information. So, What Goes Into a Life File? Your Life File doesn't need to be complicated. Include: Personal information • Original will • ID • Spouse ID • Marriage certificate • ANC • Divorce decree • Children's birth certificates • Title deeds • Lease agreement • Investment certificates • Trust documents • Share certificates • Income tax number • Proof of address • List of debts- accounts, etc • List assets • List of claims in favour of the estate • Bank account confirmation • Vehicle information – make, model, registration, documents • Life polices • Funeral polices • Time share • Retirement or pension funds • Accountant, financial adviser, attorney and other professional contacts • Passwords and pins Three simple steps today can make a difficult time a little easier for the people you love tomorrow. Disclaimer: The information contained in this post is provided for general informational purposes only and does not constitute legal advice. For legal advice specific to your circumstances, please contact me directly.