Is now the right time to draft or update my Will?

We all have a different way of coping and dealing with the national lockdown but the most important thing that we need to be mindful of is our health. A big part of staying healthy is to put preventative measures in place such as wearing a mask every time you go out, keeping a 1.5 meter social distance, sanitising, taking your vitamins, eating healthy and exercising regularly.

The same applies for your financial health. Prevention is better than cure, especially when you are no longer there. That is why now is a good time to get your affairs in order and make sure you have a valid Will so that your family is taken care of. Your life file goes hand-in-hand with your Will. This is a file (electronic and a physical file) with all your documentation that your loved ones will need; this file includes documents such as your Will, bank account details, details of all your assets and debts/accounts and mortgage. Watch this video to find out more: https://bit.ly/3czv3Nn.

Thus, it contains everything your loved ones need to carry on when you are no longer there.  If you do not have a Will then now is the right time to draft one. If you already have, a Will then maybe now is the time to review it. 

Here are a few tips to help you get started:

You do not have to panic. Thinking about death is scary and upsetting, however it is a reality. Thus, stay calm and try to think about it differently –rather than ignoring it, think about what you have and how you want to leave it behind.

Just do it. The more you delay compiling a Will the less likely you are to actually get to it, and the more you wait the riskier your family’s situation will get. Thus, get your Will in place as soon as possible, so that you do not have to worry about it and so that you can have peace of mind that your family will be taken care of.

Think about what will happen to your children. Your Will contains information on who will take guardianship of your children if they are younger than 18. If you do not have a Will in which you specify these details, then the courts will decide who will get custody of your children.

Start at the beginning. Speak to a credible service provider who is authorised to draft a valid Will. You can speak to Iemas Insurance Brokers about Wills and Estate planning by either calling us on 0860 043 627 or visit our website: https://www.iemasinsurancebrokers.co.za/secure-your-family.php. We can draft a Will at no cost to you and we have online options available during lockdown.

Source: https://www.sdlaw.co.za/use-lockdown-time-wisely-make-your-will/