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JHB HQ: +27 (0)11 799 8100   SANDTON: +27 (0)10 035 1391   PTA: +27 (0)12 347 8240
CPT: +27 (0)21 418 1236   BELLVILLE:+27 (0)21 914 9646   STELLENBOSCH:+27 (0) 21 882 8706
Brenthurst Wealth Management

SERVICES

Estate Planning

Wills, Trusts and Estate Planning

Brenthurst Wealth Management offers its clients assistance with the drawing up and safekeeping of wills, estate planning and the winding up of deceased estates. In addition, we also assist clients with establishing local and offshore trusts.

IS YOUR WILL UP TO DATE?

It’s a well-known fact that more than 70% of people do not have a will or if they have one, the will is not updated or relevant anymore.

Why spend a whole life building up assets, only to have the whole process undermined by either not having a will or having one that does not reflect your wishes when you are not there anymore? Yet this is what most people do. All it takes is a simple one page document signed by you and two witnesses.                       

Make this year the year when you get your legal affairs in order ensuring  you do not leave your family dealing with the consequences of your dereliction of duties. 

WHAT HAPPENS IF YOU DON’T HAVE A WILL?

If you should die without a will, then your estate will be handled according to the law of intestate succession. This law will determine who gets what from your estate according to the law of succession, and it may not be what you wanted. 

You might have been living with a partner for twenty years however were not married. What about the example of being separated from your wife but not divorced at the time of your death? What if you had concerns about the special needs of your children? The list is almost endless!

Another factor to consider should you die intestate is that the Master of the Supreme Court takes over the management of your estate until it is wound up. Judging from personal experience this is a nightmare.

A will need not be a complex document and can be written on one page, signed in the presence of two witnesses. Important to remember is that your executor (the person who actually winds up the estate) will need the original will in order to do this, so make sure that your original will is kept somewhere safe and that at least two people know where your original will is kept.  A copy will not be accepted by the Master of the Supreme Court.

The appointment of an executor also need not be a complex issue.  You can appoint your wife/husband as the executor with the power of assumption (the power to appoint a professional person to wind up the estate) or you can appoint someone you know well and trust, like a lawyer or investment advisor, to be the executor of your estate.�
Like your will, you should also ensure that the executor of your estate is continuously updated. 

A WILL SHOULD PROVIDE THE FOLLOWING: 

Someone many years ago said that a will is your last love letter to your family.Technically it is your instructions to the executor what to do with your assets and it can make provisions for a number of things: 

  • – Who you want to inherit the residue of your estate. 
  • – Who you want to take charge of your affairs in the event of a dispute arising from a will. 
  • – A will can make sure that your special bequests are taken care of. 
  • – You can also create trusts in your will, for example a trust or trusts for your children. 
  • – You can direct how your minor children’s affairs be managed until they reach majority. 
  • – Determine your preferential funeral arrangement. 
  • – You can even choose to disinherit an heir, should you so wish.

    Many people think that a will is a complex and difficult document to draw up.
    Anyone can draw up a will. It is also possible to buy off-the-shelf wills from most stationary shops. These wills have been drawn up by attorneys and are in a standard format. If you have a complex estate with substantial assets then it is perhaps best to consult an attorney or a specialist who deals in these matters.However, just remember that a beneficiary of the will cannot be a signatory to the will, nor can the executor. Many wills have been rejected on this basis, so take care that it is done correctly.As your financial advisors we also have a duty to ensure that your wills are up to date and correctly reflects your last wishes.

    During the course of the year we will be approaching ALL our clients asking for copies of their wills and if necessary, assisting with the drawing up of a new one and offering our services as executors of the estate.

    This is part of the holistic service we wish to offer our clients and provides our clients with peace of mind that their affairs are in order.

     OTHER IMPORTANT DOCUMENTS

    While we’re on this issue of getting all your documents in order, maybe this new-found diligence should be extended to all your other important documents, like your investment and life policies. 

    When last did you check the beneficiary nomination on these documents?

    In many instances we have come across people who have as their beneficiaries people who are not in their lives anymore, like ex-girlfriends, ex-husbands or ex-wives. 

    It’s also very important to know where all these documents are. Our suggestion is that you keep a file with the originals in a safe place and make copies for your investment advisors to keep (and also to make sure that they are filled in correctly). 

    It would be a nightmare for your second wife if you pass away and one or all of your investment and life policies still reflect your first wife as the beneficiary.

    More worryingly is the recent example of a large investment with one of the big assurance companies where the beneficiary nomination was changed to a complete stranger.

    This, in our view, was not an isolated instance as the same company is now busy with a major programme to ensure that the beneficiary nominations have not been tampered with!

    At Brenthurst Wealth Management we encourage you to live for today but plan for tomorrow.

     

     

johannesburg

(fourways)

Tel: +27 (0)11 799 8100 Unit 2B, Cedar Office Estate,
Cedar Road, Fourways, SA

JOHANNESBURG

(SANDTON)

Tel: +27 (0)10 035 1391 The Business Exchange, Block 4, 150
Rivonia Road, Sandton, Gauteng, SA

PRETORIA

(ERASMUSKLOOF)

Tel: +27 (0)12 347 8240 494A Lois Avenue,
Erasmuskloof X3, Pretoria, SA

CAPE TOWN

(DE WATERKANT)

Tel: +27 (0) 21 418 1236 29 Chiappini Street, De Waterkant,
Cape Town, 8001, SA

BELLVILLe

(TYGERVALLEY)

Tel: +27 (0)21 914 9646 Tyger Waterfront Terraces Block 2,
Carl Cronje Drive, Bellville, SA

STELLENBOSCH

(central)

Tel: +27 (0) 21 882 8706 97 Dorp Street, Unit 3,
La Gratitude, Stellenbosch, SA