Picture: 123RF/GAJUS
Picture: 123RF/GAJUS

Wills and estate planning are the focus of this edition of the Business Day Spotlight podcast.

Our host Mudiwa Gavaza is joined by Zale Hechter, CEO of Cliqtech, a firm that operates estate planning platform SmartWill.

National Wills Week, taking place from September 13-17 is aimed at educating South Africans about the risks of not having a valid will in place and highlighting the benefits of proper financial planning.

According to data from the Master’s Office, which administers estates of deceased and insolvent people, 70% of South Africans don’t have a will in place.

Join the discussion: 

Mudiwa Gavaza. Picture: DOROTHY KGOSI.
Mudiwa Gavaza. Picture: DOROTHY KGOSI.

Hechter says every year, billions of rand go unclaimed in SA because family members are not aware of policies and investments of a deceased  relative. There are many reasons why this is the case, he says, such as a lack of a valid will, an outdated will, a poorly drafted will or a simple mistake such as a beneficiary signing as a witness.

Taking us through his own journey in the industry, Hechter explains the importance of having a valid will and how technology can help to close the gap.

Topics of discussion include: the rationale behind National Wills Week; SmartWill’s business model; the state of wills in SA; reasons why South Africans generally don’t have wills in place; the cost of administering an estate; and how technology is being used in the industry.

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 Business Day Spotlight is a MultimediaLIVE production.

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