“ These fees can accumulate to hundreds of thousands of Rands and can often throw a family into financial ruin .”
Having sufficient Life Cover in place protects your family and loved ones , allows you to leave an inheritance , pay off debts and other expenses , and gives you peace of mind that they will not be left destitute .
Over the last decade of winding up Deceased Estates , we often saw Estates that didn ’ t have enough cash to cover the deceased ’ s debts . This leaves family members scrambling to raise finances and often ends up with them resorting to selling off assets such as cars and properties .
All too often , peoples ’ last wishes for their families in their Wills cannot be carried out simply because they haven ’ t secured sufficient Life Cover to settle debts and leave a legacy .
Note : This article first appeared on the Mail & Guardian Website . Please click here to view the original .
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SA Real Estate Investor Magazine OCT 2022 117