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South Africa is the world’s 4th most expensive country for dying, with 13% of the annual average wage used to pay for funeral costs. For many people who do not have funeral cover, burying a loved one is unaffordable, and they are forced to use savings that were intended for education or retirement, while others go into debt to pay for funerals.
A Will is a crucial part of estate planning. Proper estate planning ensures your assets will be distributed efficiently according to your wishes when you pass on, as well as ensuring your beneficiaries receive maximum benefit from your assets.
“Succession planning can be a complicated matter even in a simple family structure and not having a concrete plan can lead you to debilitating legal issues down the line.”
The strongest deterrent against FSP compliance missteps is or should be: