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Many people still don’t see the value of having a valid Will. However, the COVID-19 pandemic has encouraged people to pay more attention to their estate and assets. According to FNB, over the course of lockdown there has been an increase in the number of people who are taking interest in drafting or updating their Will.
The Covid-19 pandemic has served as a reminder that death can come at any time, and although it is not a subject we like to think about, there are some important things one should put in place to protect those you will leave behind. Besides the emotional stress your death will bring to your loved ones, without proper planning they could be plagued by financial stresses as well.
When it comes to estate planning, we still unfortunately encounter many misconceptions about the drafting and executing of a last will and testament. In particular, there are five key myths about wills in South Africa that urgently need busting to ensure that your wishes are smoothly and successfully carried out, and that your loved ones are cared for after your passing:
About 18% of all deaths in South Africa – or an average of 224 per day – are a result of cardiovascular disease, making it the leading cause of death in the country after HIV/Aids. And while age has long been seen as the biggest risk factor, growing numbers of young people between the ages of 20 and 40 are now suffering heart attacks too.
What can retirement funds do to improve client-adviser engagement during members’ employment years?