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Just a few years ago, most people still thought that a last will and testament was only for the wealthy or elite. New research shows that ongoing consumer education is paying off as more and more people start to understand that getting their wills drafted is an important and essential step in securing their legacy and their family’s future.
When many young South Africans enter the job market, they do so with more than their own dreams in tow. Their families have often made significant sacrifices to get them there, with the unspoken expectation that, once employed, they’ll help uplift the household financially.
Determining whether a person is married for legal purposes and tax purposes is paramount in their financial or estate planning journey. Of further importance is whether a marriage is in or out of community of property.
In South Africa, the admin of winding up a deceased estate takes around a year – and sometimes several years – before assets are transferred to heirs.