Do You Have a Will?
Here’s Why It Matters More Than You Think
Most people think a will is something you sort out when you’re older, or when you’ve “got something to leave behind.” But the truth is if you don’t have a will, it doesn’t matter how much or how little you own. Things are going to get complicated for the people you leave behind.
“I don’t have any assets, so I don’t need one.”
We hear this a lot. And it’s understandable. But the problem isn’t really about assets, it’s about your wishes. A will is simply you saying: this is what I want to happen to my stuff. Without it, nobody knows what you wanted. And when nobody knows, the government steps in.
When you die without a will, the state takes over your estate. A government employee is appointed to wind everything up. That’s a stranger, managing your affairs, on a government timeline. Your family is left dealing with the admin, the waiting and the uncertainty at the worst possible time.
Two good reasons to get a will sorted today
First, peace of mind for your family. A proper will means things can be wound up quickly and cleanly. Your loved ones don’t have to carry that weight.
Second, your wishes are on record. Everyone knows what you wanted. That clarity matters more than most people realise.
Who’s going to handle your estate?
When you draft a will, you need to name an executor who is the person or entity responsible for winding up your estate. There are two routes:
Option 1: Name a professional executor (like us). We handle everything. The trips to the Master of the High Court, the admin, the liaison, the ads that need to run. It gets done efficiently, and your family doesn’t have to figure it out.
Option 2: Name a loved one. This is possible, but it means they’ll have to do a lot of the groundwork themselves before eventually handing it over to someone who knows what they’re doing. It’s the same process either way, just longer, because there’s more back and forth, more signatures to chase, more waiting.
Neither option is wrong. But it’s worth understanding what you’re choosing.
One thing people often forget: liquidity
When you pass away, your assets don’t just transfer automatically. Your house needs to be transferred. Your car. Licences need to be paid and cleared. All of that costs money. If there’s no cash in the estate to cover those costs, you’ve got an insolvent estate, meaning there isn’t enough to wind things up.
When that happens, assets may need to be sold, or money may need to be claimed back from beneficiaries who’ve already received theirs. It creates a mess that could have been avoided with some basic planning.
A quick checklist
Before you close this tab, ask yourself:
- Do I have a will?
- Is it up to date? (Life changes — marriages, divorces, kids, new assets — your will should reflect that.)
- Is it an original signed copy? A copy won’t cut it when it comes to winding up an estate.
- Do my loved ones know where to find it?
If you answered “no” or “I’m not sure” to any of those, let’s talk. Getting a will in place is one of the simplest things you can do to protect the people you care about.
Reach out to the SFP Wealth PE team — we’ll walk you through it.