Education Planning

Your will is more than a legal document. It’s your final message to the people you care about, a blueprint for how you want your life’s work to be honoured. But no matter how carefully it’s written, its impact ultimately comes down to one thing: who you choose to carry it out.
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The Right Executor Carries Your Voice: Why Your Choice Matters

Your will is more than a legal document. It’s your final message to the people you care about, a blueprint for how you want your life’s work to be honoured. But no matter how carefully it’s written, its impact ultimately comes down to one thing: who you choose to carry it out.

That’s where your executor comes in, and choosing the right one is not just a legal formality. It’s a deeply personal decision that can mean the difference between conflict and clarity, delays and dignity.

At Maysure Financial Services, we believe your executor should carry more than paperwork, they should carry your voice.

What Does an Executor Actually Do?

An executor is the person or institution legally appointed to administer your estate after your passing. Their responsibilities include:

  • Submitting your will to the Master of the High Court
  • Managing and protecting estate assets
  • Settling debts, taxes, and funeral expenses
  • Distributing assets to the correct beneficiaries
  • Providing regular reports and closing the estate

This role requires more than basic admin, it demands financial literacy, legal knowledge, and strong emotional intelligence, especially when family dynamics are involved.

Many people simply default to naming a bank, a lawyer, or a family member as executor without fully understanding the implications. Here’s the truth: while institutions may seem like a “safe” option, they often lack the personal touch and flexibility your family may need during a difficult time.

The Risk of Choosing an Impersonal Institution

Many people simply default to naming a bank, a lawyer, or a family member as executor without fully understanding the implications.

Here’s the truth: while institutions may seem like a “safe” option, they often lack the personal touch and flexibility your family may need during a difficult time.

Some common challenges of institutional executors:

  • Delays: Large institutions often have standardised processes, which may lead to long wait times in finalising estates.
  • Limited communication: Your family may have to deal with generic email addresses or switchboard calls, rather than a dedicated contact.
  • Executor fees with little negotiation: Banks often charge the maximum allowable executor fee, 3.5% of the estate value, without factoring in complexity or size.
  • Lack of understanding of your personal values: A document can’t express your heart, but the right person can.

Choosing Someone Who Respects Your Wishes

So, who should you choose?

Your executor should be someone who:

  • Understands your personal wishes and values
  • Has a clear head in emotionally charged situations
  • Can be trusted to act fairly and transparently
  • Is willing and able to handle the legal and financial admin
  • Has support from professionals, where needed

In some cases, a loved one may be the right choice. In others, a professional executor—like a qualified financial advisor or fiduciary, working alongside a family member can offer the best of both worlds: technical guidance and personal care.

Understanding Executor Fees (and What to Look Out For)

South African law allows executors to charge up to 3.5% of the total estate value plus VAT, as well as 6% on any income earned during estate administration. But here’s what many people don’t know:

  • You can negotiate executor fees upfront, especially with financial advisors or smaller fiduciary firms
  • Fee structures should be discussed at the planning stage, not left to your heirs to dispute later
  • Professional executors often offer more value than large banks at a lower cost, especially when backed by personal relationships

At Maysure, we believe transparency and flexibility are key. Our goal is to ensure your estate is handled with care and efficiency, without draining value from your legacy.

How Maysure Blends Professional Expertise with Personal Care

At Maysure, we don’t just process paperwork. We act as a bridge between your written wishes and the people you’ve chosen to receive them.

  • We guide our clients through the will drafting and executor appointment process
  • We act as professional executors, either alone or in partnership with your family
  • We tailor our estate services to your life, your values, and your specific goals

Because when the time comes, your family deserves to work with someone who understands you, not just your documents.

Your legacy is too important to be left to chance, or to a default tick-box on a will template. The right executor can mean the difference between a seamless transition and years of frustration for your loved ones. Choose someone who will speak for you, protect your legacy, and honour your values.

Final Thoughts: Your Executor Should Reflect Your Intentions

Your legacy is too important to be left to chance—or to a default tick-box on a will template. The right executor can mean the difference between a seamless transition and years of frustration for your loved ones.

Choose someone who will speak for you, protect your legacy, and honour your values.  At Maysure, we help you make that choice with confidence.

📞 Ready to review your will or update your executor? Contact us today to start the conversation.

640 417 Maysure Financial Services

Saving for Your Child’s Education in South Africa: Tips and Tricks

Every parent wants the best for their child, and ensuring a quality education is often at the top of the list. In South Africa, where access to education can be challenging due to financial constraints, planning for your child’s educational journey becomes even more crucial. As the cost of education continues to rise, it’s essential to start saving early to provide your child with the best opportunities for success. In this blog, we’ll explore the importance of saving for your child’s education, the rising costs involved, and practical strategies to make this dream a reality.

The Rising Costs of Education: A Closer Look

Education is an investment in your child’s future, but it comes with a price tag that keeps growing. The costs associated with education span from primary school to tertiary education and include not only tuition fees but also uniforms, textbooks, stationery, transport, and extramural activities. Let’s delve into the numbers to understand the scale of the financial commitment:

  • Crèche for three years: R30,000 per year
  • Pre-primary school for two years: R60,000 per year
  • Primary school for seven years: R90,000 per year
  • High school for five years: R100,000 per year
  • Tertiary education for four years: R45,000 per year (average public tertiary education costs)
  • Residence during tertiary education: R25,000 per year

When you consider these costs, it becomes evident that providing your child with a quality education requires careful financial planning. However, these figures only scratch the surface. Additional expenses such as school uniforms, transport, extracurricular activities, and more can significantly raise the overall cost:

  • Primary school: R98,000 per year
  • High school: R110,000 per year
  • Tertiary education, with residence: R80,000 per year

Why Early Planning Matters

When it comes to saving for your child’s education, time is your greatest ally. Starting early allows your investments to grow and compound over time, helping you keep up with the rising costs. Here are some key reasons why early planning matters:

  1. Compounding Growth: The power of compounding means that your money earns interest on both the initial amount and the accumulated interest. The longer your money has to compound, the more significant the growth.
  2. Staying Ahead of Inflation: Education costs tend to rise faster than general inflation. By starting early, you can better prepare for these inflationary pressures.
  3. Flexibility to Adjust: Beginning your savings journey early provides flexibility to adjust your contributions over time based on your financial situation and changing education costs.
  4. Teaching Good Money Habits: Saving for your child’s education sets an excellent example of responsible financial planning and instils good money habits in both you and your child.

Strategies for Effective Education Savings

  1. Set Realistic Goals: Understand the projected costs of education and set achievable savings goals. Plan for both primary and high school education as well as tertiary studies.
  2. Invest for Growth: Look for investment options that offer growth potential that outpaces education inflation. Consider diversified investments like unit trusts that include property and equity exposure. 
  3. Start Early: The best time to start is now. The earlier you begin, the longer your investments have to grow, increasing your chances of reaching your savings goals.
  4. Use Government Initiatives: Utilise government programs such as the education bonus to maximise your savings. These incentives can provide a significant boost to your education fund.
  5. Involve Family: Encourage family members to contribute to your child’s education fund instead of giving traditional gifts. This collective effort can make a significant impact over time.
  6. Regularly Review and Adjust: Reevaluate your savings plan annually and adjust your contributions if necessary to stay aligned with changing education costs and financial circumstances.

Partnering with Experts for a Secure Future

Navigating the complex landscape of education savings can be overwhelming, but you don’t have to do it alone. Seeking advice from qualified financial advisers, like those at Maysure Financial Services, can provide you with the knowledge and expertise you need to make informed decisions. We can assess your unique situation, discuss your child’s educational needs, and help you structure a personalised savings plan that aligns with your goals.

Conclusion

Securing your child’s education is an emotional and financial investment that requires careful planning. The rising costs of education demand early action and informed decision-making. By starting to save as soon as possible and utilising strategies that prioritise growth and flexibility, you can provide your child with the gift of a quality education and a brighter future. With the right support and expert guidance, you can ensure that your child’s educational dreams become a reality, setting them on a path to success.