Good debt leads to increases in earnings or growing value in assets. Education is a good debt, because it increases your employability and then, within your chosen occupation, it increases your ability to earn money. Another good debt is buying property.
For many of us, the subject of making a Will may be a sensitive one. Despite frequent reminders from relatives, family lawyers and public announcements, as many as 70% of South Africans have not yet drawn up a Will.
For some people, the idea of writing a Will is unpleasant because it confirms an uncomfortable fact: none of us will live forever. While nobody wants to spend their time contemplating their own death, taking the time to write a Will is a way of ensuring that your family will be looked after in the event of your death – a good reason for any of us to write one.
A popular reason given by people who are reluctant to write a Will is that the state will divide their possessions amongst their family anyway. There is some truth in this belief, but the way in which the state divides your assets if you die intestate, may not be to your liking or in accordance with your wishes. Continue reading “The Importance of Making a Will”