Increasingly women are becoming economically active participants and we see a shift in the traditional role of women, with many being in control of their finances and running single-headed households.
“This backdrop also highlights that with increasing levels of education on financial products, solutions and general money management skills, more women are safeguarding their individual and families’ financial interest,” says Matlhodi Leteane, Head of Operations, FNB Fiduciary.
More and more women drafting Wills
“The trends we’re observing highlights that women are now looking to financial institutions and financial advisers on how to draft and manage a valid Will. Increasingly women are looking to ensure that the basis of their financial circumstances are well covered given the tough times that we are going through,” says Leteane
She explains further that, “Many people today don’t see the value of having a valid Will. A Will ensures that your wishes are carried out without any ambiguity of your children or loved ones. It’s important to note that executing valid Will with clear written instructions will benefit your loved ones. This also mitigates the option for families to verbally attest to the estate planning objectives.”
“To ensure that one has valid Will, we urge people to always review and update their Will when their circumstances change. Examples such as when you get married, when you have children and also when you have acquired more assets. These are just some examples that you need to consider when updating your Will.”
Growing trends of women empowerment
She also advises that, “Single women are advised to create a trust for your family members or alternatively you can consider a charitable trust for the social projects that are close to your heart”.
“While we celebrate women, we should appreciate the gains and leaps that women have made over the last few decades. This continues to shape the growing trends of women empowerment, as seen with more and more women drafting their Wills and creating lasting legacies for their children/families,” concludes Leteane.
Head of Operations