In our busy lives, the thought of drafting a will often takes a back seat. However, for the alumni and friends of Stellenbosch University, this step is pivotal in not only safeguarding the future of their families but also potentially contributing an enduring legacy to their alma mater.
Why is a Will essential?
Creating a will is a vital practice that allows you to determine the distribution of your assets, including real estate, investments, and other properties, according to your wishes. This legal document serves as a beacon of security, offers peace of mind and lays a foundation for future generations to build upon.
The expertise of attorneys in Will drafting
It is very important to seek the assistance of an attorney in drafting your will. These experts are equipped with the necessary knowledge to avoid legal complications, and will ensure that your will is both valid and reflective of your intentions. Regrettably, many wills are invalidated due to inadequate legal guidance during the drafting phase. This may have unforeseen consequences.
The consequences of not having a Will
In the absence of a valid will, the Intestate Succession Act comes into play and guides the distribution of your assets. While this Act generally ensures a fair distribution to your family and relatives, it might not resonate with your personal preferences and could potentially lead to family disputes, delays in the appointment of the executor, and unforeseen expenses.
National Wills Week: A golden opportunity to leave a lasting legacy
The Law Society of South Africa is facilitating National Wills Week from 11 to 15 September 2023. This offers a golden opportunity for Stellenbosch University alumni to craft their legacies. During this period, numerous attorneys across the country, including those affiliated with the Law Society, will be providing complimentary services to draft wills.
Moreover, for many alumni and friends of Stellenbosch University, a charitable bequest presents a seamless way to contribute to the University. This gesture, which incurs no immediate costs, provides the gratification of knowing that your future contribution will foster enduring growth and development at the University. By including the University in your will through a bequest of cash, shares, or other assets, you not only contribute to its legacy but also enjoy significant tax benefits. For more information contact Hugo Steyn at hugos@sun.ac.za
