Momentum Trust has partnered with will software provider Arken.legal to offer an online will generation service to all South Africans for free.
Momentum’s new platform asks the user a series of questions related to their estate and final wishes and once completed the will is ready for download and print.
The user then has to review the document and sign it in the presence of two independent witnesses who are at least 14 years old and able to testify in court, which will make it legally binding.
Momentum Trust CEO Jeffrey Wiseman believes that now is the right time to launch a solution directly to all South Africans without any cost.
“We are living in a world where we all have had to face the idea that we, or someone we love, might pass away unexpectedly. With so many South Africans living without a will, we hope that this will make the grieving process a little easier,” Wiseman said.
“There has been an understandable increase in online will service providers of late, but few of them follow the same rigorous process that ours does,” says Wiseman. “When it comes to your will, you are going to need to make sure you trust the source, as there are many subtle errors that can change the meaning of clauses in the will.”
Wiseman says that the will should always be supported by a financial plan and advises users to contact a financial adviser if they have any doubts.
Arken.legal CEO Dave Newick said, “We have been developing and delivering end-to-end will and trust solutions to South African trust companies and now seemed to be the time to look at developing a standard consumer-facing online system for South Africa. It is this system that sits at the core of the version that has been customised for Momentum Trust”.
PERSONAL FINANCE