While considering the naivety with which our NPA decides who and when to prosecute, watching a romantic comedy made more sense, so I scrolled through the repeat-heavy DSTV bouquet. (beside the point but none the less something that could be added to the #fall agenda). In my pursuit of an escape from the harsh realities of living with JZ and his cronies, I came across a nineties comedy BLAST FROM THE PAST.
As this artistic master piece starring Brendan Fraser did not exactly set the Box Office alight a short synopsis seems necessary.
Back in the sixties with the cold war raging US Government scientist Dr Calvin Webber (played by Cristopher Walken) builds a nuclear fallout shelter in his backyard as the commies are coming and he needs to protect his pregnant wife. The Cuban Missile crisis arrives and the paranoid Dr Webber takes his family into the shelter which is an exact replica of their family home above. An unfortunate plane accident is mistaken as the start of nuclear war and the Webbers are locked in the shelter for 35 years. Mrs Webber gives birth and their son Adam (played by Fraser), is only exposed to the extent of his parents’ knowledge up to 1962. Fast forward to 1997 and the shelter locks open in order to resupply their dwindling resources, and if there’s time find Adam a non-mutant wife. The plotline then basically revolves around him being unable to distinguish between modern society and a nuclear wasteland, which is funny until you realise you are living in that “wasteland”.
Why write about Hollywood when I am supposed to be writing about finances? The point is planning and planning for your Future. The ability to see into the future is unfortunately not meant for us mere mortals but we can prepare for the worst just like Dr Webber did. It might come as a shock to some that our investment committee doesn’t look into the future considering they get it right most of the time. This getting it right compared to having a crystal ball entails, preparing for every eventuality when you can still affect the outcome and in so doing ensure that even when nuclear war strikes you protect what matters most.
The fallout shelter of Financial Planning is a well drafted Will in conjunction with Estate Planning. Nuclear war might not be on the cards for RSA yet, but if you take into account that a badly drafted will or not having a will at all could cost your family, the home they are living in, the school or university they are attending (#eveniftheFeesFall), and the security your income provides, it does become a matter of survival. You don’t need to plan and build an underground shelter to survive in for 30 years, you just need the right professional assisting you through the process of protecting your family. International research done in the U.K. found that 9 out of 10 people that had the right support in drafting their wills and winding up their estates left their families in a better position to deal with the loss. Treasury’s budgeted collection of R1, 354 billion in estate duty during the 2015/2016 financial year, also makes it clear that drafting or reviewing a will is something that should not be postponed. Later might become never and the earlier you start just makes more avenues available to ensure that you and your family are protected. The 20 something bachelor/bachelorette might not think that they need a will but it is equally important for everyone, no matter your age, gender or status. An Estate Plan is a key tool in identifying financial risk that might not be as evident at first and as you won’t be spending the next couple of years in a fallout shelter it is always better to be safe than sorry.
The current happenings in our country confirms that we are living in strange times, but like one of President Obama’s advisors said “You never let a serious crisis go to waste”. In line with that thinking we at Bovest Wills & Estates would like to ensure that you are protected and thus offer a free review or first draft of your will before the end of February. There will be a lucky draw in March 2017 were every person that takes us up on our offer could win a R 500 Takealot.com voucher.
By Jacques Theron for Bovest Wealth Management