Do you have a will? If not, that's the first mistake to remedy...

Listen to this week's episode to find out the most common mistakes made when drawing up a will, and at least ONE of the reasons why it is SO important that you have one.

Show notes:

• [01.58] Reasons people are prompted to make a will.

• [03.20] Reasons people DON'T get wills.

• [07.54] The most common mistakes of a will

  • Leaving money to a minor.

  • There's no fall back.

  • No trust deed for the trust.

• [12.43] Signage, storage and notifications.
  

Quotes

"Doing a will is the most important thing you could ever do." - Lisa Linfield

"Remember you can (and should) change your will every two years." - Lisa Linfield

"An internet will, a bank will, an any will is better than no will. But, there is no reason anyone should die without a will" - Lisa Linfield

"You need to give the trust the rights of what the people can do." - Lisa Linfield

Related posts and episodes

• What you need to know about wills

• How you should structure your investments in a marriage

• What happens to your money when you die? With Coreen van der Merwe

• Getting control over your money with Laurie Bodisch

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TRANSCRIPT

I see a lot of wills, and they always challenge me…

… but even a bad will is better than no will (intestate)

Why people don’t do wills

·         Can’t agree on guardians for kids (especially if divorced)

·         Don’t know who to speak to

·         Subconsciously avoid discussions on death

Biggest mistakes of a will

·         Money being left to minor (<18 year old) kids

·         No fallback (what happens if the person dies before you do)

·         Money going to a testamentary trust but no trust deed

Biggest mistakes after will agreed

·         Signing, storage and notifications