The truth is that no matter how sad it might seem, unfortunately everyone passes away as it is part of the life cycle, and it cannot be changed.
The question regarding assets is a well-known one, and a lot of people do not realise that your well-earned assets can go to unsolicited family members when you pass away if you did not have some sort of will or trust in place before you passed away.
This means that the specific individuals and loved ones will not get the items that you intended for them to get when you pass away.
This is exactly why it is so important to ensure that you have all your financial planning affairs in order throughout your life so that you can be rest assured that your assets do not fall in the wrong hands due to lack of financial planning.
What happens if I die and did not have a will?
Unfortunately, if you did not have a will in place at the time that you passed away, all your assets will be distributed between family members, even if the family members were never present in your life.
This is because of the Intestate Succession Act which allows the state to transfer your assets to the family members and divide your assets between them, even if you did not want specific individuals to get hold of your assets or wanted a specific individual to get a bigger portion of your assets.
The good news is that everything you worked for throughout your life can be kept secure and distributed as per your wishes, when you are no longer here to ensure your loved ones and chosen individuals are taken care of.
This is because a will specifies what individuals should be given which assets, and this is conducted after you pass away.
This is exactly why it is so important to draft a will and ensure it is always updated.
Our experts at Serenity Trust are here to help you draft your will and we will ensure that the instructions are conducted when you are no longer here to ensure it yourself.
Contact us today or browse our website to get your financial planning in order before it is too late, we are here to make sure your wishes become a reality when you are gone.
