In a significant shift towards gender equality in financial planning, South African women are taking the reins in securing their families’ future.

According to Old Mutual Online Wills’ customer data, women, particularly those aged 26-55, are proactively creating wills to protect their loved ones.

The Statistics SA’s General Household Survey 2022 reveals that nearly 45% of children under 14 live only with their mothers, and 42% of households are headed by women.

This underscores the significant financial burden women carry in providing for their families.

The Old Mutual Online Wills platform has made it easier for women to create a legally valid will, removing traditional barriers like cost, complexity and time constraints.

The intuitive online process allows customers to draft a will covering key decisions, including asset distribution, naming guardians for children and establishing testamentary trusts.

The CEO of Old Mutual Online Wills, Hilton Michels, said they are seeing women take a more proactive role in estate planning, often thinking about and creating wills earlier in life than their male counterparts.

“Our platform supports women, who are already balancing so much, by allowing them to protect their families without sacrificing time or money,” said Michels.