Let's face it—preparing for the inevitable isn't exactly the most thrilling topic, but it's crucial for safeguarding your loved ones from the chaos that can follow your departure. No matter how much or how little you leave behind, your passing will trigger a process called deceased estate administration, and there's no dodging it.

The laws of succession aren't just about moving money around. They play a vital role in keeping families afloat and making sure everyone gets what they're entitled to. Professional estate administration isn't just about dealing with death's consequences; it's also about ensuring your family's quality of life continues smoothly.

When someone passes away, their remaining assets (after paying off debts, obligations, and administration costs) are inherited by those entitled to them. The goal? Leave your loved ones with an estate that's as debt-free as possible.

Estate planning and deceased estate procedures can be as confusing as trying to assemble flat-pack furniture without instructions. Plus, a single misstep or lack of know-how can be costly for your family if there’s no plan in place.

Most people can't afford top-tier estate planners, and this often leads to lost wealth. If you don’t plan properly, your heirs might miss out on their inheritance. Your family might have to sell assets—potentially even their home—to cover estate debts. Unnecessary taxes (like Capital Gains, Estate Duties, and VAT) could eat into the estate. Kids might become wards of the state. A slow or ineffective Executor could be appointed, dragging out the process and costing more money. And if no one’s notified properly, it can lead to family chaos and conflict.

There’s a lot to manage: cash flow, financial and legal strategies, access to your Will and other important documents, estate administration services, and strategic notifications to key people and organisations. Without these in place, your loved ones will either have to handle everything themselves or hire someone who can.

The simple truth? If you don’t get your affairs in order, you’ll leave your loved ones with a mess to sort out before they can inherit anything. So, plan ahead and save them the hassle (and a few grey hairs).

The risks of avoidance

1 - Heirs won't get their full inheritance because your plans are not up-to-date or in-line with the high court procedures
2 - Your heirs will be subject to the courts decision as to any inheritance which might not land up being what you would have wanted
3 - Deceased estate carries too much debt so your assets have to be sold by law, leaving your family with less to inherit
4 - Unnecessary Tax, Estate Duty, Capital Gains and VAT are paid which will reduce your estate value, leaving much less for your loved ones
5 - Children are not considered so the courts decide their future, thus placing them under enormous pressure to survive this world
6 - Your executor is not monitored so they could drag their heels, which leaves your family struggling to survive while they wait
7 - It could take your family a long time to find out that you have died, if no formal emergency strategy is in place for each family member
8 - Family members are thrown into chaos when a death occurs and everything gets confusing as they try to administer your affairs
9 - Your life is forgotten about and future generations will never know about you, leaving future generations guessing about who you were

These are the unavoidable issues that you need to plan for and nobody gets away with them.


Solution

Myprotector has designed a few solutions to the aforementioned problems. Please take a look at the services that our members have access to:



Our skillfully built, cloud-based platform is here to make estate planning easy. We’re dedicated to protecting your goals and managing your affairs when you no longer can. Whether you have family to depend on or not, relieve the burden that your passing will have on them, by having a protector alongside them every step of the way. Having a Myprotector account ensures that your estate and personal wishes are carried out, exactly as you’ve planned and supports your family every step of the way, minimising stress at an especially vulnerable time.