It seems impossible, right?
No business can stay solvent by drafting wills for free and storing them for free, right?
Wrong.
Because this is precisely what Capital Legacy does.
You can contact them, and they will, for free, draft a will and hold it in safekeeping for you, no questions asked.
Well, actually, they will ask you a couple of questions.
For instance, they will ask you if you know that passing away is a costly and lengthy process if you don’t have a will.
They will ask if you know that if you passed away and had a house and other assets (your estate) totalling, let’s say, R3 million, the executor’s fees could be more than R120 000 – other fees could be substantially more if you have minor children.
They will tell you that if you are happy for your estate to foot this bill then you’re good to go. Excuse the pun.
But if you don’t have R120,000 lying around, they will suggest that you consider a very clever insurance product for a minimal amount which will indemnify your estate against these unexpected legal fees and costs when you pass away.
If you decline this offer, they will draft a will for you for free and keep it in safekeeping anyway. Just like they do for thousands of people every single month. It’s true.
Most people actually decide the insurance cover is the best option, and for an average of R185 per month, knowing that all your stuff will be sorted, it’s very well worth it.
To understand why Capital Legacy goes to such great lengths to get as many people as possible in SA covered with a will, you have to know the beginning of its story.
How it all started:
Alex Simeonides, CEO and founder of Capital Legacy spent his formative years in the financial services industry as a successful financial advisor.
One day, sitting with the widow of a client, he had to explain why a host of legal and other expenses, such as executor, conveyancing, and trustee fees, eroded the life cover she was relying on. It touched him deeply and made him acutely aware of the need in South Africa for a product which would indemnify estates from crippling legal fees.
Thus, the Legacy Protection PlanTM (LPPTM) was born. In 2012 Alex and two other founder members started Capital Legacy with the innovative approach of integrating insurance into the fiduciary offering to indemnify the legal fees and other costs at death.
The humble start-up company, with its staff complement of 6, soon found that the need was far greater than they had thought, with 75%-80% of South Africa’s population without a will in place.
Determined to make a dent in this national problem, Capital Legacy embarked on a journey to educate the market and industry. It spearheaded the drive to prioritise wills for clients and advisors alike.
“We believe good financial planning starts with the will. Our business was built off the back of spreading this message and offering innovative solutions to financial advisors to help protect their clients’ legacies”, says Capital Legacy COO Brandon Garbutt. And true to this ethos, Capital Legacy has made the process of getting a will drafted simpler and easier and is now recognised as SA’s leading will drafting company, with over 12,000 new client wills drafted monthly.
At first, Capital Legacy and the LPPTM were met with some resistance in the industry (as is often the case with innovation and change). Still, because of its great offering, this was quickly replaced by significant financial advisor support.
Other big players in the industry have tried to copy Capital Legacy’s LPPTM, but all they have been doing was playing catch-up. Capital Legacy believes in being innovative and has several solutions, the most recent being EducareTM which takes care of children’s school and day-to-day needs if you pass away.
Do yourself a favour and visit Capital Legacy’s website, where you will see the solutions and their benefits to your family should you pass away. There’s even an online calculator to help you get an idea of your potential legal fees and costs at death.
Conclusion:
Capital Legacy places you in a win-win situation. They draft (or redraft) your will and keep it safe (they will even send a courier to collect your signed will at no cost to you). They help you understand the legal costs your estate will incur if you pass away, and they offer you a unique solution to indemnify your estate against these costs. This has proven to help literally thousands of South African families avoid chaos and administrative stress when a loved one has passed away.
Whether you’re in need of a
will, life insurance, education
cover,
or the power of all three, we have got you covered.
