Most people do not like to think about death. This is probably the reason why most people neglect to have their will revised on a regular basis. This can lead to major problems.
You should regularly check your will to ensure that it caters for:
1. Guardians and a trust with appropriate trustees for minor children;
2. Accrual and maintenance claims of the surviving spouse;
3. The possible insolvency of heirs on date of death;
4. Donations given to heirs during the deceased’s lifetime;
5. Estate Duty;
6. Capital Gains Tax;
7. Divorce of heirs.
A poorly drafted or outdated will can have serious consequences for the surviving spouse and other heirs. It is your duty to ensure that you will is regularly updated.