Wills Week - Stephanie Asks Terence some practicalities of will drafting

This week, I am interviewed by my friend and client, Stephanie. Recently we drafted her will and as it is wills week in South Africa, I wanted to share some info with you.

Some of the questions she asked me and I answered on the podcast:

What do you mean by liquidity?

You also mentioned the executor gets paid last - so why is it important to have cash in the bank to pay you.

Will it make sense to take out some sort of policy that will cover the executor fees?

Who decides on the fee for the executor?

Who lets you know that I have died?

What happens next?

I have 3 grandchildren so I would need a trust to be formed for them. Do you form the trust when I've passed or do I do it before anything happens to me?

What happens to my debt when I die?

Because I have plans of going to NZ, what happens if I die there?

Reach out to me via podcast@richideas.co.za with your questions and if you want to be a guest on my podcast.