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Clientèle Proudly Launches the Estate Preservation Plan

Estate Preservation Plan

Did you know that approximately 850 new Estate matters are filed with the Master of the High Court, valued at between R2-3 billion, every month, according to statistics released by FISA (Fiduciary Institute South Africa). Research shows that more than 70% of Estates suffer liquidity constraints that impact the timeous and effective winding up of several Estates, and only an estimated 23% of Estates have Wills. The balance are wound up intestate, meaning that a client’s wishes regarding the distribution of his or her Estate may not be fulfilled and, in particular, any minors interests would need to be catered for through the Guardian Fund. With these facts in mind and when reviewing what is currently available, it is clear that there is a dire need for a comprehensive solution to address these issues. It is for this very reason that Clientèle is excited to announce the launch of the Clientèle Estate Preservation Plan.

The Clientèle Estate Preservation Plan was developed by a small team with 145 years combined industry experience between them. This bespoke solution not only addresses the need for an executable, accessible and relevant Will, but also provides a level of financial protection for Estate’s heirs during the process of winding up the Estate. The cover provided under the Plan includes benefits related to immediate cash needs, administrative costs, executor fees, minor debtors as well as funding assistance in terms of ongoing monthly expenses which beneficiaries may require while the Estate is being wound up.

Bart Wouters, Head of Distribution, Estate Division, Clientèle Life emphasises “the Estate Preservation Plan is a unique offering which provides a vital link between the Client, Fiduciary Specialists and Financial Advisors, as all parties involved are aligned in terms of their interests. This plan, combined with a first to market online underwriting capability, is dedicated to assisting Financial Advisors. Meaning that Clientèle Life is well positioned to enhance the value proposition to clients.”

“We are very proud to be launching the Clientèle Estate Preservation Plan. A tremendous amount of work has gone into preparing this ground-breaking product. This is a new market for us and we are very excited about it. Intermediary Brokers are going to be a new key stakeholder for us and we look forward to forging strong relationships with them. Safeguarding our clients’ world with compassion will remain our top priority and the Estate Preservation Plan truly embodies this,” concludes Basil Reekie, Group Managing Director, Clientèle.