None of us consider death and the reality is that our loved ones will suffer the day we depart this earth if you do not have a valid and up to date Will in place.
Have you ever considered what will happen to all your assets in the event of your unfortunate demise?
Do your loved ones know your Security Passwords, Private Keys and Seed Phrases to your crypto wallets and where they are stored?
Remember, that without the Seed Phrases, your loved ones will ๐๐๐ be able to access such crypto funds and they will be lost ๐
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Will your family inherit your assets as per your wishes or will the government take it?
You see, if you pass away without leaving a valid Will,ย your estate will devolveย according to the Intestate Succession Act, 1987 (Act 81 of 1987).
This means that your estate will be divided amongst your surviving spouse, children, parents or siblings according to a set formula. Find out more: intestate succession.
Should you die without a valid and up to date Will, this is known as โIntestate Successionโ and can seem complicated and overwhelming.
Sadly, this process can take from a few months to a few years to complete, depending on the individual case.
While dying without a valid Will is generally an accident or oversight, it often creates complications and hurt feelings. The best way to ensure your assets are distributed according to your wishes is to have a valid Will drawn up by an attorney. Your loved ones will appreciate your thoughtfulness and planning.
In the meantime, you can create your own will online โ here are a few very handy (๐๐ง๐ ๐๐ซ๐๐) online options:
Now go ahead and create your own Last Will & Testament, for the sake of your loved ones!