Drawing up a will is an important part of financial planning for all South Africans and not just the wealthy. Most people own “assets” or items of value, even if it is only a few items of jewellery, furniture and a savings account.
Drawing up a will is especially important for single women in South Africa as many are the breadwinners and primary caregivers for their children, grandchildren or extended families.
Some people have told me that they are too young and haven’t “made it yet”, so drawing up a will is not worth the time, while others have told me they are too old, too poor or too uneducated to need a will.
I’ve seen the devastation that a lack of financial planning has on family members. There are many heart-breaking financial stories that I wish I could have helped to avoid that resulted because of myths about financial planning.