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| Why is it important to have a Will and Testament? |
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Without a Will legislation decides:
- who inherits your property;
- who is guardian of your minor children; and
- Who is in charge of your estate administration
Without a Will:
- the court could appoint someone you do not approve of to be your executor;
- your estate will be dealt with according to rigid and inflexible laws;
- your minor children's inheritance might suffer, since anything they are entitled to receive, will have to be transferred to the Guardian's Fund in a monetary form, where it will remain until they turn 18. This means that the family home would have to be sold.
With a Will you:
- protect the inheritance of children under 18;
- ensure that your wishes are carried out;
- and if you own a business, you will protect your family against debt liability;
- can save on estate duty with proper planning
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