Wealth Associates

Celebrating Heritage Day at Wealth Associates Today, we celebrate the richness of South Africa’s cultural diversity. At Wealth Associates, we are proud to be a business family made up of many traditions, backgrounds, and stories. Each culture brings wisdom and perspective, making us stronger together and helping us connect more meaningfully with one another, our clients, and our communities.   Some of our team members shared what heritage means to them: “One of the strongest parts of our heritage is how we celebrate special times together through family, church, and food that carries stories across generations.” “Our heritage is not tied to a single culture - it is found in our traditions, our togetherness, and the way we celebrate life.” “My heritage is about community, respect, and carrying forward traditions that remind us of where we come from.” Let’s celebrate the beauty of our differences while standing united as one. Happy Heritage Day! #HeritageDay #Culture #WealthAssociates #CarmelWealth

What to Prepare Before Having Your Will Drafted   Preparing the right information beforehand makes the process smoother and ensures that your wishes are clearly documented. Use this checklist as a guide:   1. Personal Information -Full legal names, ID/passport numbers, marital status. -Details of your spouse/partner and dependents (children, stepchildren, or anyone financially reliant on you).   2. Executor Choice -Decide who should administer your estate (professional, trusted family member, or both). -Be aware of the fees an executor is entitled to charge.   3. Beneficiaries -List beneficiaries with full names and ID numbers. -Consider alternatives in case a beneficiary predeceases you. -Decide whether to leave specific bequests (e.g., jewellery, furniture, money). -Plan for your residuary estate (everything not specifically mentioned).   4. Guardianship for Minor Children (if applicable) -Nominate a guardian to care for your children if both parents pass away. -Decide whether guardians should also manage finances or if a testamentary trust is needed.   5. Trust Considerations -If leaving assets to minors or vulnerable beneficiaries, consider a testamentary trust. -Appoint suitable trustees to manage these assets. People you trust to administer same for you.   6. Assets & Liabilities -List your property, vehicles, investments, retirement funds, bank accounts, policies, businesses, digital assets, and valuables. -Record all debts and obligations (e.g., home loans, vehicle finance, credit facilities, sureties).   7. Special Circumstances -Business succession planning (if you own or co-own a business). -Provision for pets, dependents with special needs, or foreign-held assets.   8. Funeral & Burial / Cremation Preferences or Organ Donation -State whether you prefer burial, cremation, or other arrangements. -Record any specific funeral wishes. -Indicate whether you wish to donate organs.   9. Witnesses -Your will must be signed in front of two competent witnesses who are not beneficiaries. -Ensure the formal requirements for executing a valid will are followed.   10. Storage of Will -Decide where to store the original will safely (executor, bank, attorney, or home safe).   11. Supporting Documents -Keep important documents with your will: title deeds, share certificates, insurance policies, marriage certificate/ANC, divorce orders, adoption records, firearm licences, and partnership agreements.   12. Considering a Living Will A living will is a document that states your medical wishes if you can’t communicate, usually about end-of-life care like life support, resuscitation, or tube feeding when recovery is unlikely. -It provides clarity and peace of mind for your loved ones and doctors. -It does not deal with your property or beneficiaries (that is covered by your last will). -It should be kept with your will and shared with your family. #wills #willsweek2025 #fiducary #Wealthassociates #Carmelwealth 

The Rise of Testamentary Trusts In recent years, there has been a noticeable increase in the use of testamentary Trusts as part of estate planning. These Trusts, created in terms of a will and coming into effect upon the death of the testator, have become a popular tool to ensure that assets are preserved and managed responsibly for the benefit of heirs. However, while the advantages are clear, such as protecting minor children, providing ongoing financial management, or shielding assets from potential risks, it is important to recognise that a testamentary Trust should never be established as a redundant vehicle. The administration of such Trusts can be complex and comes with additional costs. Trustees must be appointed, annual compliance requirements must be met, and certain statutory and professional fees will apply throughout the life of the Trust. Estate planners should also take care to ensure sufficient funds within the Trust. Without enough available funds, the intended purpose of the Trust can be undermined, as expenses may erode the assets meant to benefit beneficiaries. A well-structured testamentary Trust remains a valuable estate planning tool, but it should always be created with careful thought, proper funding, and an awareness of the practical responsibilities involved. #wills #willsweek2025 #fiducary #Wealthassociates #Carmelwealth

The Hidden Costs of Dying Without a valid Will in South Africa Every year in South Africa, countless estates fall into turmoil because the deceased had no valid will. Dying without a will can cause long-lasting financial, legal, and emotional stress for loved ones. What Happens Without a Will: If you die intestate (without a valid will), the Intestate Succession Act 81 of 1987 decides how your estate is divided. This means: - Your beneficiaries inherit according to a fixed formula, and not according to your wishes. - Beneficiaries you care about may be excluded. - The Master appoints an executor, often increasing costs, delays, and complexity. Dying without a will isn’t just a legal technicality it has tangible financial and emotional costs: - Delays: Estates can take months or years to finalise. - Extra Costs: Intestate estates often face added fees like a bond of security. - Guardian’s Fund: Inheritances for minors go into this fund, limiting access. - Family Disputes: Disagreements can escalate into costly legal battles. - Unfulfilled Wishes: Charitable or personal bequests can’t be honoured. Why a Professional Will Matters: DIY wills often fail legal requirements. A professionally drafted will ensures your intentions are clear, legally binding, and cost-effective—protecting your loved ones, including minor children and dependants. Act During Wills Week: Wills Week is the perfect time to draft or update your will. It’s one of the most meaningful ways to protect your estate and secure your family’s future. #wills #willsweek2025 #fiducary #Wealthassociates #Carmelwealth

We are incredibly proud to share that Theoniel McDonald, CFP® has been named among the Top 3 finalists for the Financial Planning Institute of Southern Africa’s 2025 Financial Planner of the Year Award! This prestigious recognition celebrates excellence in financial planning and highlights professionals who demonstrate exceptional skill, integrity, and dedication to their clients and the industry. Reaching the Top 3 is an extraordinary achievement and a testament to Theoniel’s unwavering commitment to making a meaningful difference in people’s financial journeys. Please join us in congratulating Theoniel on this incredible milestone. #ProudMoment #FPI2025 #FinancialPlannerOfTheYear #Congratulations #WealthAssociates #CarmelWealth

New Legal Development: Electronically Signed Wills in South Africa Northern Cape High Court makes history   In Mokgoro and Others v Master of the High Court, Kimberley (August 2025), the Northern Cape High Court accepted an electronically signed will as valid under section 2(3) of the Wills Act.   Case Summary: The deceased emailed her digitally signed will to two confidants, requesting that they sign electronically and return it. The Master argued that wills are excluded from the Electronic Communications and Transactions Act (ECTA). The court held that section 2(3) of the Wills Act allows non-compliant wills to be accepted if clear intent is proven. Evidence of the deceased’s instructions and involvement confirmed her intent. “Execution” of the will was interpreted in its ordinary sense, carrying out the testator’s instructions, even though this was done electronically. The court found sufficient evidence that the deceased executed the will, intended it as her final testament, and died thereafter fulfilling the requirements of section 2(3). The Master was directed to accept the 2021 will as her valid last will and testament.   Why This Matters: This landmark South African case is the first to validate an electronically signed will under section 2(3) of the Wills Act. It shows that a court may prioritise the deceased’s intent over formal defects, but this is an exception rather than a change to the law - formal compliance remains the safest approach. While ECTA excludes wills, section 2(3) can allow electronic wills if the court is satisfied, they reflect genuine intent.   Other Recent Developments: In March 2025, the North Gauteng High Court in Perumal v Janse van Rensburg accepted an unsigned electronic will (drafted and shared digitally) as valid under section 2(3), due to clear evidence of intention. Historically, earlier cases such as Macdonald v The Master (2002) and Van der Merwe v The Master (2010) accepted printed versions of electronic documents rather than electronic originals. A 2018 case (Dryden v Harrison) rejected an email will due to insufficient evidence of intent.   Key Takeaways: Courts may accept electronic wills under section 2(3) if the deceased’s intent is clear. This is a remedial exception, applicable only when formal compliance is lacking but intent can be proven which is often a costly process. ECTA’s exclusion of wills does not prevent section 2(3) relief. The pathway is fact-driven, expensive, and may require litigation. A professionally drafted and properly signed will remains the safest and most reliable option. Acceptance of electronic wills is emerging and depends on facts, evidence, and judicial discretion. The case sets a precedent for courts to recognise electronic wills where formalities are absent but intent is evident. #wills #willsweek2025 #fiducary #Wealthassociates #Carmelwealth

5 Myths About Wills - Busted   1. “I’m too young and don’t have much, so I don’t need a will.” Wills aren’t just for the elderly or wealthy. Accidents can happen at any age, and a will ensures your wishes are respected – from personal belongings to guardianship of children. Without one, the law decides for you.   2.“If I have a will, my estate will be wrapped up quickly.” A professionally drafted will reduces disputes, but estate administration still follows a legal process. It can take months (sometimes years) depending on the complexity of the estate, debts, taxes, and compliance with the Master’s office and all government institutes involved.   3.“My spouse will automatically inherit everything.” Without a valid will, the Intestate Succession Act applies and determines who inherits. Assets can be shared between your spouse, children, and sometimes parents. This might not always align with your wishes, and in blended families it can cause serious conflict.   4.“The executor can be anyone.” While you can nominate anyone, the Master of the High Court must approve any nominated executor. Choosing someone inexperienced may delay estate administration. Appointing a professional executor provides the expertise needed for efficient estate administration.   5.“Writing my own will is enough.” Homemade wills are often invalid due to technical errors (for example, not being properly witnessed). To avoid costly mistakes, it’s best to have your will drafted and signed correctly by professionals. #wills #willsweek2025 #fiducary #Wealthassociates #Carmelwealth

In his recent Citywire opinion piece, our colleague Theoniel McDonald, CFP® highlights the often-overlooked link between money management and mental health.   When clients feel in control of their finances, they also feel more confident, less stressed, and better equipped to handle life’s challenges. That’s why at Wealth Associates, our work goes beyond returns, it’s about creating clarity, structure, and peace of mind.   We’re proud to see Theoniel share this important perspective with the wider industry.   Read the full article here: https://lnkd.in/dWbFrZkW   #FinancialWellbeing #MentalHealth #WealthAssociates #Citywire #ClientCare  

Huge congratulations to Mauritz Van Den Heever, CFP® CIPM and Theoniel McDonald, CFP® for being recognised in Citywire’s Top 50 IFAs!   This achievement highlights not only their dedication to clients, but also their commitment to excellence and raising the bar in our industry. It’s not just about making the list, it’s a reflection of their consistent professionalism and the impact they deliver in every interaction, client and industry peers alike.   Well-deserved recognition for two outstanding professionals – we’re proud to celebrate this achievement with you both.   Read more here: https://lnkd.in/duibqYAP   #Leadership #Recognition #FinancialAdvisers #CitywireTop50

Our very first Lead the Way programme has officially come to an end – and what a journey it’s been! Over the past few months, delegates had the opportunity to connect with industry leaders, gain insights from their experiences, and develop skills that are critical for the future of wealth management. From sharpening communication and understanding human behaviour, to building self-awareness and exploring the role of technology in the industry, the programme combined practical skills with deeper perspectives on what it takes to create an innovative, client-focused business. It’s been rewarding to see how this exposure has sparked growth, and the positive feedback reflects the real impact this programme has had. At Wealth Associates, we believe growth is a lifelong journey. By continuously learning, adapting, and challenging ourselves, we open up new possibilities – for our clients, our teams, and the communities around us. A big thank you to everyone who contributed to making #LeadTheWay2025 such a meaningful first step in what we hope will become a lasting journey of learning and leadership.   Wealth Associates Carmel Wealth #LeadTheWay #WealthAssociates #CarmelWealth #WealthRedefined