THE BENEFITS OF MAKING A WILL
Everyone should have a will
It is a sad fact that although most of us acknowledge the importance of making a will, only three out of ten people do so. It really is something that should not be delayed because if you were to die without a will, you will have no control over how your personal assets are distributed.
If you die intestate – without a will – and have no surviving relatives, everything you possess may eventually revert to the State.
A will is one of the most important documents in your life
A will provides peace of mind and security, because you know that your money, possessions and assets will be distributed according to your wishes. What’s more, it allows you to continue supporting causes that are important to you.
It is important to get professional advice when making a will
There are numerous legal requirements that must be adhered to, so as to ensure the validity of your will. It will also ensure clarity when your instructions are carried out.
The laws pertaining to Estates are revised from time to time. It is to your advantage to consult a professional in order to reduce the tax liability of your estate. For many, creating a tax-efficient will provides an opportunity to direct estate duty savings to a charity or organisation of their choice.
Don’t deny yourself the opportunity to have a final say about the things and people who matter to you most.
WHAT IS A BEQUEST?
A bequest, or legacy as it is known in some countries, is a gift written into a will. It can be a set amount and/or specified item(s) such as real estate, shares, or the proceeds of a life insurance policy. You could also elect to bequeath a percentage of your estate or the residue of your estate, that is, the amount remaining after all costs and other bequests have been settled, or the total estate after testamentary expenses.
A bequest is a promise for the future, meaning that the giver can remain interested and involved while being assured that their present income will not decrease, because their gift is made from assets, not current income.
HOW CAN I MAKE A GIFT TO ST MARY’S IN MY WILL?
Naturally, you will first want to make provision for your spouse and children, if any. But in cases where the children are grown up and successful in their own right, it can be extremely satisfying to extend your generosity to others who lack the opportunities your own children enjoyed.
If you would like more information about making a bequest to St Mary’s, please contact Raelene Robertson who would welcome the opportunity to talk to friends who believe in investing in the future.
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