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Every person who is 16 or older and who owns assets and is able to understand the results of his/her actions, should have a will. If you die without a will your assets could be divided to persons you did not intend to inherit from you. It could also lead to an adminstrative nighmare, tax and legal problems and possible financial losses for those you left behind. Your will determines what happens to everything you worked for through the years and will influence your heirs if you don’t plan correctly. Estate duty, income tax, VAT and capital gains tax can take a big chunk out of your estate if your planning is wrong.

A will should comply with certain legal requirements to be valid. You also nominates and executor and trustee to execute your will (divide the estate’s assets) and to handle the administration of any trust assets. As you can see to setup a will needs the advice of a specialist, for more information of a will visit the AFS website.