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Why is it important to compile a will?
We all have plans for the future and for the rest of our lives.
But have you thought further than that? Have you considered
what will happen to your family and friends when you have
gone? What will become of all your personal possessions?
You have a right and a responsibility to decide by ensuring
that you have a valid will.
What happens when you don’t leave a will?
If you don’t leave a will, your estate will be divided up
according to State laws. This is a lengthy process, during
which urgently needed funds may be tied up, placing
additional worry and hardship on your family. Your estate will
also attract the maximum estate duty. Precious items may
have to be sold and the money distributed - not necessarily
according to your wishes. Even if you have made these wishes
clear verbally, they cannot be enforced without a valid will.
Can you compile a will by yourself?
Adding a codicil to change an existing will is a simple matter
but it is not advisable to try and draw up or change a will
without consulting an attorney or financial advisor.
Why leave a bequest to charity?
Charitable bequests have been included in wills for
centuries. They are a way of keeping your ideals, your
compassion and your vision alive for years to come. A
bequest offers you the opportunity to make a really
worthwhile gift which you might otherwise not have been
able to consider - perhaps to perpetuate your name or the
name of a loved one. Particularly if your children have
grown up and are self-sufficient, you may find tremendous
satisfaction in using your bequest to help make the world a
better place and to touch the lives of people in need.
Knysna Hospice has been approved by the South African
Revenue Services as a Public benefit Organisation in terms
of Section 30 of the Income Tax Act. Any bequests to Knysna
Hospice are therefore exempt from payment of Estate Duty
in terms of Section 4 (h) of the Estate Duty Act No. 45 of
1955. This means that the amount of any bequest to Knysna
Hospice may be deducted from the nett value of the Estate
when calculating the Estate’s liability for Estate Duty
Purposes.
How would Knysna Hospice use my bequest?
When you leave a legacy to Hospice care, you provide vital
funds that will help ease the final days and weeks of those in
need.
Your bequest will provide practical support and spiritual
comfort at a time when it is needed most. Your gift could
have greater impact, perhaps providing new Hospice
facilities or bursaries to train more nursing sisters in
palliative care. Bequests are invested in our Endowment
Fund and work in perpetuity for Hospice. If you are
considering a bequest to Knysna Hospice, please contact us
as we would appreciate a chance to say a discreet thank you,
and to plan with you a fitting tribute to your generosity.
Bequest options
The type of bequest you choose will vary according to
individual circumstances. Here are some options you may
want to consider.
- A SPECIFIC SUM OF MONEY / A
SPECIFIC ITEM
This is the simplest bequest, but has the
disadvantage of having to be reviewed from time to
time to allow for the effects of inflation and changes
in your circumstances.
- A PERCENTAGE OF YOUR ESTATE
This ensures a fair division between all your
beneficiaries, whether your estate grows or is
depleted by inflation or unforseen costs.
- ALL OR PART OF THE RESIDUE OF
YOUR ESTATE
This means whatever is left over (or a portion
thereof), after you have made provision for loved
ones.
- LIFE ASSURANCE POLICIES
Usually we have insurance to take care of a specific
situation which may lose it’s relevance as we get
older. Such a policy may be ceded to a worthy
charity in your will.
The information contained in this leaflet should not be taken
as a substitute for professional legal advice. Please consult an
attorney or other qualified person when drawing up or revising
your will.
Download the Bequest Brochure click here (3MB) |
It is possible to support these through the MyVillage MyPlanet programme.
The MyVillage MyPlanet programme was launched as an extension of the MySchool programme, to provide community minded individuals the opportunity to support a worthy cause without having a prior relationship with a school. If you don't have children, or your children have already left school, and you wish to continue supporting a worthy cause with every swipe of your MySchool card, then this option is perfect for you. We have ± 90 members.
