The wind blows in August and reminds us that the spring is around the corner. I am always grateful for warmer weather as I tend to hibernate in the cold months and feel as if I am not stretching to my full potential. I hope that by the time you are near or over 50 that you are aware of who you are and what potential you have. In the second half of life we should start to ask ourselves the following question “Now that I know who I am, how can I help others and make a difference”.

South Africa is alive with possibility. Many may feel that the country is in crisis and the Chinese saying goes that in every crisis there is opportunity. How can you use your wisdom and skill as this point in our history to help bring about some form of positive change?

I will be presenting in Johannesburg and Cape Town in August and September. The talk will be a general overview on the trends facing Baby Boomers. This is ideal for all men and women in their 50’s and early 60’s. Come and enjoy a morning with us More details are available in this newsletter.

The article attached to this month’s newsletter is about a subject that should be addressed by all responsible adults. It is not only for older people as we can never determine when tragedy may strike. Gavin has put together a very practical tool to help people ensure that all their records are in order. The product is called The Final Chapter. Please connect with him directly if you want more details.

There are many new and exciting products to be launched over the next few months. Please encourage your friends to join this site and to register their skills. I would value you sending this newsletter to your network.

Keep warm and get ready for the new season,

Kind Regards

Refirement eZine August 2008

The Final Chapter

By Gavin Cumming

Losing a loved one is traumatic. The grief and deep sense of loss felt by those left behind does not stop after the last hymn has been sung and the mourners have bid their final farewells. This is, in fact, when the real trauma sets in.

Gavin Cumming, a Financial Planner with over 20 years experience, has seen many families ruined and torn apart when a loved one dies without leaving a Will.

“I’ve seen family feuds erupting, total financial ruin, the loss of family businesses – the list of devastation is endless, and so two years ago, I embarked on a crusade to try to eliminate this crisis.” Cumming says.

The remaining spouse or family member may not know whether the deceased had a valid Will, or where it is kept. Joint bank accounts are automatically frozen, and many are faced with the tough question of how the family will survive without access to these finances. If the deceased died without a Will (intestate), then the Master of the High Court will appoint an Executor. This alone could take 6 – 12 months. Cumming warns that the process of winding up an Estate is governed solely by how organised the deceased’s effects and documentation was at the time of death.

The Executor must locate and process all relevant documents, including original Birth, Marriage/Divorce and Death certificates, and gain access to bank account numbers, life policies, and tax returns. The winding-up process also involves the complex coordination of many additional functions such as paying off the bond, settling outstanding accounts etc. “This is just the tip of the iceberg, and can greatly hinder the speed at which the Estate is finalised,” Cumming says. Once this process is completed, a final distribution account must be submitted to the Master of the High Court for approval before the Estate can be finalised.

67% of economically viable South Africans do not have a valid will, and it is for this reason that Cumming has designed an Estate Book system that not only helps you to draft or update a Will, but also houses all your relevant and important documentation, dramatically reducing the time taken to wind up an Estate.

No matter how old you are, whether you are financially successful or not, your final gift of love to your family should be to ensure that your affairs are in order, leaving your loved ones with nothing but good memories of you.

For further information about the Estate Book System or drafting a Will, please contact Gavin Cumming on 011 867-2705 or email gmcmktg [at] mweb [dot] co [dot] za.

Please contact Lynda Smith on +27 (0) 82 490 2822 or lynda [at] refirementnetwork [dot] com for more details. Our web address is www.refirementnetwork.com

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