LAST WILL AND TESTAMENT

MISA assist members with drafting a last Will and Testament.

 

If you die without a will/testament in South Africa, your estate is frozen, and no one may withdraw funds from your bank accounts or deal with any of the estate assets without the necessary permission from the Master of the High Court.

 

The Master of the High Court will devolve your estate according to the Intestate Succession Act, 1987 (Act 81 of 1987).

 

This means that your estate will be divided amongst your surviving spouse, children, parents or siblings according to a set formula.

 

Martlé Keyter, Chief Executive Officer: Operations, says a last Will and Testament is one of the most important document that you will ever write. It is a legal document with your wishes regarding the care of your children and the distribution of your assets, after you passed on.

 

“MISA assists members with the drawing up of this important document at no additional cost. This benefit is included in your MISA contributions.”

 

If MISA is the Executor of your Estate, reduced fees are charged:

 

• 3% on the value of your estate

• 5% on any income generated by your estate

 

Just one more reason why MISA is the Trade Union with the best benefits in the motor retail industry.