Remember, Death waits for no one...
It always happens unexpectedly...
It always happens unexpectedly...
Last Wills and Testaments
No one likes to think about their own death, but it is important to consider what will happen to your possessions after you have passed away. It is comforting to know that you that you have taken the correct steps to insure that your possessions are given to the correct loved ones, or to the charity of your choice, thus leaving a lasting legacy.
What is a Will?
It is a legal document that states exactly what you would like to happen to your assets when you pass away. It will ensure that those closest to you will not suffer unnecessarily in this difficult time. In the will you will also ensure that your minor beneficiaries is looked after by people that you see fit after your death. Remember: The latest validly signed document, will be regarded as your last will and testament and will automatically cancel all previous documents.
Why have a Will?
| Legal and updated will exists... | If Not... |
| 1. The beneficiaries are your choice. | 1. The State determines the beneficiaries according to a SET formula. (Not your wishes). |
| 2. Less family feuds. (You leave a positive legacy). | 2. Normally the family is broken apart because of feuds and uncertainties. |
| 3. Your assets will not be frozen (In this difficult time, the family will not have to suffer financially). | 3. Your family will wait up to 6 years for the finalization of your Estate and distribution of your assets by the State. |
| 4. Pensions and Insurances will pay out timeously. | 4. Pay-out of pensions and insurances is hindered by the long administration process of the State. |
| 5. Children are sought after financially as well as physically. | 5. The assets for the children will be managed by the State and the Guardians will also be decided upon by the State. |
WHAT IS A?
Executor:This is the person(s) or institution that ensures that your wishes are carried out according to your will. This may be any person older than 18 years. It does not necessarily have to be an Institution because there will be extensive financial implications for your family. Please see the comparison below.
Trustee:
This
is the person(s) or institution that ensures the correct distribution
and safe keeping of the assets of your minor beneficiaries until they
reach a certain age, as stipulated by you.
It is vitally important to appoint your own Trustee. Should you appoint someone that you trust, the funds will remain the beneficiary's funds but the Trustee will have reasonable access to the funds (for instance to pay tuition).
If you do not appoint your own Trustee, the State automatically becomes the decision maker regarding the funds that you leave for your minor beneficiaries. The funds will be paid into the Guardians Fund. Please note:
Guardian:
This is the person(s) who will be taking care of your children, thus essentially becomes the new "parents". The guardians will only be appointed should both of the natural parents pass away and only of the children is under the age of 18.
Should you not appoint your own Guardian, the children will be left at the mercy of the State.
USE FULL HINTS!
The Will and Marriage in Community of Property:
As you know, this means that your spouse automatically becomes the beneficiary to 50% of your Estate as per Law. Should you then mention your spouse again under the percentage division part of your will, your spouse will inherit the 50% as well as the additional percentage specified by you! Thus, should you mentioned under this paragraph that your spouse must inherit 50%, he or she will in fact, inherit 75%!
It is vitally important to appoint your own Trustee. Should you appoint someone that you trust, the funds will remain the beneficiary's funds but the Trustee will have reasonable access to the funds (for instance to pay tuition).
If you do not appoint your own Trustee, the State automatically becomes the decision maker regarding the funds that you leave for your minor beneficiaries. The funds will be paid into the Guardians Fund. Please note:
- Access to the funds is an Administrative nightmare
- The interest rate (Positive growth) on the Guardians Fund is EXTREMELY LOW. Remember, the funds will only be paid to the beneficiary on their 18th birthday. In effect you will lose money for your beneficiaries.
Guardian:
This is the person(s) who will be taking care of your children, thus essentially becomes the new "parents". The guardians will only be appointed should both of the natural parents pass away and only of the children is under the age of 18.
Should you not appoint your own Guardian, the children will be left at the mercy of the State.
USE FULL HINTS!
The Will and Marriage in Community of Property:
As you know, this means that your spouse automatically becomes the beneficiary to 50% of your Estate as per Law. Should you then mention your spouse again under the percentage division part of your will, your spouse will inherit the 50% as well as the additional percentage specified by you! Thus, should you mentioned under this paragraph that your spouse must inherit 50%, he or she will in fact, inherit 75%!
Why choose us
Accelera Wills
Wills from financial Institutions
- A once off fee is charged (payable in installments).
- Storage fees are included.
- All future changes / updates are included.
- Yearly reminder to update your will as well as communication with the same person.
- First-hand knowledge of HR systems of your employer.
- 24 Hour availability / Quick turnaround time for changed wills.
- Inventory form and assistance included.
- Regular visits to your workplace (Units).
- Two original copies.
- Assistance to ensure that the will is correctly signed as prescribed by the Law, thus ensuring a valid document.
- Once off fee of up to R1200 (Payable immediately).
- Yearly storage fee applies.
- A changing fee applies every time you want to update your will.
- Most of the time, service is call center based and you will speak to a different person every time.
- No knowledge or communication with your employer.
Savings & benefits to your family
Accelera Wills & assistance
Other institutions
- You appoint your own executor. NO EXECUTOR FEES.
- You appoint your own Trustees. NO TRUST ADMINISTRATION FEES.
- You MUST appoint the institution as executor: Executor fees. 3.5% of your Estate, 6% of Capital & Administration costs.
- The Institution MUST be appointed as Trustee. There will be fees applicable for the administration of the Trust.
Click on the following links to download our Last Will and Testament Application Forms and our information brochure:
| Main Member Last Will & Testament Application  | Spouses Last Will & Testament Application | Executors Assistance Application  | Debit Order / Stop Order Mandate |
Should you require any assistance completing the application forms, please do not hesitate to contact our friendly staff members
ACCELERA: 0861 10 13 18
24HR EMERGENCY TRANSPORT: 0861 78 88 84
(Executors Assistance Clients only)
HEAD OFFICE: (021) 554 1846 / 53
CELL: 076 571 1834
FAX: 0862 747 603
E-MAIL: INFO@ACCELERA.CO.ZA
P.O. BOX 859, WEST COAST VILLAGE, 7433
