Business Day Spotlight
PODCAST | 70% of South Africans do not have a will and stand to lose a lot as a result
Mudiwa Gavaza is joined by Zale Hechter, CEO of Cliqtech, a firm that operates estate planning platform SmartWill
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.
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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 There are many reasons why this is the case, he says, such as a lack of a valid will, an outdated will, a poorly drafted will or a simple mistake such as a beneficiary signing as a witness.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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