Trust Consultancy for Women
Estate Planning Designed for Women!
The best time to plan your estate is NOW !
WHY IS IT IMPORTANT FOR A WOMAN TO DO ESTATE PLANNING ?
Regardless of age, career path, number of children or marital
status, estate planning is relevant to every woman’s life.
On average, women live six to eight years longer than men. This means
that women who are more likely to outlive their partners, need to make
sure they plan for their financial future in the event of a spouse’s death.
Estate planning can be a powerful tool for achieving financial freedom
and security during retirement and beyond – not only for yourself but
also for those you love.
Proper Estate Planning ensures that the distribution of your assets after
your death is looked after. This includes anything from property, bank
accounts, investments to personal belongings.
The estate plan can allow your wishes to be carried out in the event you
ever become incapacitated. This can include decisions about your
medical care, financial affairs, and other essential matters. With an
estate plan in place , you can rest assured that your wishes will be
followed, even if you cannot make decisions for yourself.
Furthermore estate planning is also very important for the following
reasons:
- You recently got married.
- You have started your own business or your business has
expanded, and you need to make provision for the future, ensuring
it does not lose value and burden your estate. - You want to appoint a guardian or set up a trust for your children to
ensure they are protected and cared for especially when they are
minors. - You were recently or are in the process of getting divorced.
- You want to protect your estate from paying excessive taxes or
debt or becoming insolvent. - You want to support your favourite charity or donate your organs
after death.
Your life can change in a single minute, and so can your family’s…. Should you die, a will helps to ensure that your family needs are met according to your wishes.
If you pass away without a will or a valid will, the Intestate Succession
Act 81 of 1987 will decide who gets what, without any regard to your
wishes or your family needs.
A will allows you to name an executor, the person responsible for
managing your estate after your death. This individual will ensure that
your assets are distributed according to your wishes and that any
outstanding debts and taxes are paid. Choosing a responsible and
reliable executor is crucial to ensure that your wishes are carried out as
you planned.
In addition to asset distribution and executor selection, a will can also be
used to name a guardian for any minor children. This ensures that your
children are cared for by someone you trust and that their needs are
met. If you do not name a guardian in your will, it will be left to a court to
decide who takes care of your children. You can also create a trust in
your will and nominate trustees to look after the educational/medical and
every day expenses of your children.
Even if you don’t consider yourself to have a large estate, a will is still
important. This can prevent family members from fighting over
sentimental items or family heirlooms, and it can help ensure that your
loved ones are cared for after your death.
Part of your estate planning is also to put your life protection in place.
Death cover
Death cover is not just for married women or working women but also for single women and stay-at-home moms. Death cover can assist with school fees and other expenses that you might have to pay for.
Critical illness
As you get older, good health becomes a blessing. Cancer ,heart problems and other diseases become more common the older you get. It does not mean that when you are young you are invincible though. The earlier you have criticalillness cover in place, the lower the rates are and you will be financially looked after when you are ill.
Disability
Disability cover protects your biggest asset – your ability to earn an income. Disability cover is a vital benefit in your life insurance portfolio. It financially protects you against the risk of permanently losing your income if you suffer an illness or injury and covers the extra costs of living with the disability.
Income Protection
Income protection offers the peace of mind that your home, family and lifestyle aren't affected if you're unable to work because of illness or injury.