Serving the people who serve South Africa

Five years ago, Capital Legacy identified the need to serve the many people who serve South Africa when it realised that the public sector lags behind the rest of the country in having valid wills in place. With an estimated 70% of South Africans who do not have a will, this percentage was even higher for public servants.

Considering how great this need is, it made sense for Capital Legacy to create a division dedicated to serving this part of our working population because the requirements of their jobs often make it difficult for them to meet in person to draft their wills. They are geographically spread out across the country and many of them work shifts or have job roles requiring them to be present and serve the public during regular office hours.

As the leading wills and estates business in South Africa, Capital Legacy was able to create an entire division to address their needs. The Capital Legacy approach is to offer ‘we come to you’ consultations that are facilitated by on-the-ground, hands-on wills consultants who can provide ultimate flexibility by meeting clients whenever, wherever and however it suits them, including video or telephonic consultations and after-hours appointments. Not only for public sector employees, but for everyone.

The success of this approach can be seen in the numbers. Latest data shows that Capital Legacy helped more than 36,000 government employees to draft their wills last year, and a total of more than 140,000 of them have been assisted to date.

More than funeral cover

Justin Pakes, Executive Manager at Capital Legacy, explains, “The short version is: This market needed more than funeral cover.”

He adds, “We realised the huge need for consumer education around leaving clear wishes for your loved ones by way of a will, and covering the unexpected costs and legal fees at death. These are estate planning provisions that can be taken care of while you are alive, to ensure that your loved ones are then provided for when you are no longer around. We had a well-suited solution – our Legacy Protection Plan™ – that could be tailored to meet the specific needs and budgets of this sector to help protect their deceased estates against the costs of dying. We call it KeyPlan^TM. We’ve been able to protect thousands of families’ finances against the costs of losing a loved one. In the last four years, we’ve indemnified public sector workers’ deceased estates against millions in fees, and we are always looking at ways of improving our products for all clients.”

When thinking about the costs of dying, most people are aware of the expenses associated with arranging a funeral and an ‘after tears’ remembrance or memorial. However, what most of us do not know the extent of, is the estate-related expenses, such as legal charges and administrative fees, resulting from someone passing away. These can be substantial because executors, attorneys, accountants and other professionals must be involved in winding up a deceased estate and they all cost money. If there are not sufficient funds in the estate, the executor might have to sell assets to cover the shortfall. This is often how a partner or children end up losing their home after a loved one passes away.

Every South African

The loss of South African Defence Force (SANDF) troops who were members of a peacekeeping force in the Democratic Republic of the Congo in January offers a reminder of the need for public servants’ affairs to be in order.

“We are increasingly helping people who serve in the SANDF. Many of them are soldiers preparing to deploy on a wide range of missions. They tell us they want the peace of mind that there is a signed will in place when they leave home to go and serve our country,” Pakes says.

“We hear too many heartbreaking stories of financial loss piled on top of emotional grief. That’s why we are working hard to bring about more positive outcomes and deliver on our mission of ‘making the loss of a loved one easier’. We recently had the case of a municipal worker who sadly passed away. We were able to pay out a lump sum of immediate cash, for the family to cover urgent expenses like water and electricity, and school fees. This public sector worker had chosen to indemnify his estate against the costs of dying, so we were able to save his family nearly R500 000 during the deceased estate administration process because he had also appointed us as his executor. That’s half a million rand his family did not have to forfeit,” Pakes explains.

Capital Legacy will soon have nearly 1 000 will consultants, making it possible to serve every corner of our country as they continue helping more South Africans with the drafting of their wills.

Will-drafting, unlimited amendments, courier pick-up, keeping in safe custody, and will retrieval, are all FREE with Capital Legacy. For a nominal fee per month, you can also indemnify your estate against the unexpected costs of dying. Even if you do not opt for this add-on, simply protecting your legacy and making sure your wishes are clearly set out in the event that you pass away, is a positive legacy to leave behind.