Brittany Badham-Thornhill recently contributed to an article entitled “Write a Will and Protect Your Legacy” on personal finance and insurance website, Hippo.co.za.
Here are some excerpts from the article:
“Unlike things like Life Insurance and Funeral Cover policies, you don’t have to be over 18 to draw up a will to determine what happens to your belongings when you pass away. Brittany Badham-Thornhill, associate attorney at Fairbridges Wertheim Becker Attorneys says that according to South African law, in terms of Section 4 of the Wills Act 7 of 1953, you only need to be 16 years or older to make a will, unless you are mentally incapable of appreciating the nature and effect of entering into a will.
Badham-Thornhill also recommends that you review your will after any life changing event, given the implications this may have on your estate, for example, getting married, purchasing a house or other asset, having a child, experiencing a death in the family, or inheriting. In particular, Badham-Thornhill says that having a child will impact how your estate is managed, because of the strict rules in place to ensure that children are cared for in your absence. “A will can simplify this process and ensure that your child is looked after immediately, without having to overcome any administrative barriers first,” she says.
To read the full article click here: http://www.hippo.co.za/blog/insurance/write-a-will-protect-your-legacy/