CAPE TOWN – When you are not there to know where your assets are, your family will not know what to give to your executor. As a result your estate may take longer to wind up.
Head of channel at Metropolitan Retail, Japie Mostert, give the following tips:
- Make a list of all your assets – for example, your house, investments, life insurance policies, pension funds;
- Ensure that you include account numbers and institutions which you are investing with;
- Have a folder with the important documents – including your Will – such as the deed of title to your house, your insurance policy and statements of account;
- You should update the folder once a year and check that you have all your current information in the folder;
- You should tell someone you trust where your original Will is located and what to do with it when you pass away.