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Protect your family's legacy by securing a will and estate plan Picture: SUPPLIED/Discovery Life
Protect your family's legacy by securing a will and estate plan Picture: SUPPLIED/Discovery Life

A carefully crafted estate plan is one all-important way of demonstrating how much you care about the wellbeing of your loved ones, long into the future. 

Globally, interest in estate planning has spiked significantly. The demand for wills has reached record highs in the wake of Covid-19, with some businesses reporting enquiry spikes of between 300% and 600% during the early months of the pandemic. SA is no exception. 

A common uncertainty affecting every person around the world is driving a renewed understanding of the importance of having a plan, in case something unexpected happens, and maintaining this plan. 

This incredible health crisis has heightened the sense of how fragile life can be. If Covid-19 has demonstrated anything, it’s that tomorrow can surprise us all. This forces us all to live in the present and recognise that today is the best time to get our affairs in order

Think of your will and estate plan as a love letter to the people that matter most to youIn your absence, or if you are incapacitated, they will need a road map.

The financial security that a well-constructed estate plan can give them is invaluable, in both the immediate and long-term futures.

8 reasons why leaving a legacy is an act of love like no other: 

  1. It protects the legacy you want to provide for your family. 
  2. You can provide for loved ones in the specific ways that are ideal to you — no matter how complex your family structure may be. If you die without a will, you leave it up to the state to decide how your assets will be divided between your family, which may not be entirely according to your own wishes. 
  3. It offers your dependents and heirs adequate financial security at every stage of their lives. You can think of it as the most substantial financial gift you’ll ever give your loved ones. Long-term careful planning removes financial burdens off the shoulders of those you leave behind. 
  4. It provides peace of mind by replacing any uncertainty with confidence and clarity.
  5. It helps your loved ones cope during an immensely stressful time in their lives, and allows for proper grieving and healing to take place.
  6. It helps you and your loved ones avoid unnecessary costs and legal turmoil.
  7. It also helps to ensure that nothing of importance, such as your insurance policies or other assets, is omitted or “gets lost” in the administration process. Having to play detective is a stressful undertaking for a grieving loved one. Proper estate planning removes any instances of painful guesswork.
  8. It can also help to provide for loved ones in a way that alleviates emotional turmoil, conflict or misunderstanding among them. 

No matter the nature of your relationships or family structure, having a carefully considered last will and testament, and a sound estate plan in place, is a legacy of love as much as it is about financial security and peace of mind.

For comprehensive assistance, get in touch with a Discovery Life financial adviser today.

Discovery Wills and Trust Services, a division of Discovery Central Services (Pty) Limited, a company registered in South Africa with registration number 2016/054628/07 and part of the Discovery group of companies. Discovery Life Limited, registration number 1966/003901/06, is a licensed life insurer, and an authorised financial services and registered credit provider, NCR registration number NCRCP3555.

This article was paid for by Discovery Life.