Everything Counts | Episode 18: Understanding the deceased estate administration
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In this episode, Motheo is joined by Lieze-Mari Brink (from Investec's tax and fiduciary team), Nirvashni Rajkumar (an Investec financial adviser) and Nikki Bush (best-selling author and women’s empowerment champion). They simplify the complexities of estate planning, outline the responsibilities of executors and they highlight the importance of having clear and detailed records. These are just some of the emotional and logistical challenges involved in winding up an estate.
Their discussion also stresses the importance of having a well-prepared will, including letters of wishes, to help guide your loved ones and prevent conflicts. Keeping your records organised can make things much easier for your family when the time comes.
Everything Counts is a bi-weekly podcast series that focuses on money and financial wellness. Hosted by 702's Motheo Khoaripe, each episode tackles various aspects of personal finance, including saving, spending, investing, pitfalls to avoid and tricks to succeed. The podcast aims to provide valuable information and expert guidance to help listeners improve their financial well-being.
Key moments:
00:00 Introduction
01:56 Obtaining a death certificate
03:14 Timelines for wrapping up a deceased estate
05:06 Nikki Bush’s experience with estate planning
07:53 Liquidity planning for your estate
08:50 How your marriage regime impacts your deceased estate plan
10:04 The value of a life insurance policy after death
11:06 Why estate planning is essential for everyone
11:47 The importance of having a financial advisor
12:14 The importance of sharing information with family in case of death
14:10 The quickest ways to wind up an estate efficiently
16:51 How to appoint an executor
17:45 The role of an executor in deceased estate administration
18:01 The complexities of nominating a family member as your executor
21:16 What should be in your will?
21:32 A will vs a letter of wishes
22:57 Organising your most important documents
25:22 Investec’s Life File checklist
26:01 Critical documents to have on hand
Their discussion also stresses the importance of having a well-prepared will, including letters of wishes, to help guide your loved ones and prevent conflicts. Keeping your records organised can make things much easier for your family when the time comes.
Everything Counts is a bi-weekly podcast series that focuses on money and financial wellness. Hosted by 702's Motheo Khoaripe, each episode tackles various aspects of personal finance, including saving, spending, investing, pitfalls to avoid and tricks to succeed. The podcast aims to provide valuable information and expert guidance to help listeners improve their financial well-being.
Key moments:
00:00 Introduction
01:56 Obtaining a death certificate
03:14 Timelines for wrapping up a deceased estate
05:06 Nikki Bush’s experience with estate planning
07:53 Liquidity planning for your estate
08:50 How your marriage regime impacts your deceased estate plan
10:04 The value of a life insurance policy after death
11:06 Why estate planning is essential for everyone
11:47 The importance of having a financial advisor
12:14 The importance of sharing information with family in case of death
14:10 The quickest ways to wind up an estate efficiently
16:51 How to appoint an executor
17:45 The role of an executor in deceased estate administration
18:01 The complexities of nominating a family member as your executor
21:16 What should be in your will?
21:32 A will vs a letter of wishes
22:57 Organising your most important documents
25:22 Investec’s Life File checklist
26:01 Critical documents to have on hand
