Restructure your assets sensibly to preserve the money for heirs

I'm a widow with a terminal diagnosis. I want my two children, both in their fifties, to inherit with minimum cost and delay. I have R5-million in bank accounts, R7-million in unit trusts, R5-million in RSA retail savings bonds and a home worth R5-million. What should I do?

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The kindest legacy you can leave is clarity. A tidy estate prevents the small frictions that can become big family problems.

Will, wishes and important info

Update your will and name a professional executor you trust. Give them authority to sell assets and sign transfer documents without further consents. Avoid the temptation of having a family member act as executor this often results in family disagreements.

Complete a “loved ones file” that lists every account, policy and investment. I have a template that you can use just send me an email. Write a brief letter of wishes. It is not binding, but families handle decisions better when they understand your intent.

Sort out your medical paperwork. An advance directive and the right consents can spare your children difficult choices.

Attach beneficiaries where possible