A will is a legal document that specifies how you want your possessions to be distributed after you die. If you don’t have a will, your wishes will not be followed and this may cause unnecessary unhappiness for the people you leave behind.
The people who inherit are called the beneficiaries.
If you die without leaving a will, or an invalid will, you will have died INTESTATE.
South African laws then apply automatically to your estate. Your closest relatives benefit first – your spouse and your children. If you do not have a spouse or children, then your parents and brothers and sisters benefit. If these people are no longer alive, then the next nearest blood relatives will become beneficiaries. If there are no blood relatives, your property is put into a state fund. If your property is still unclaimed after 30 years, it then goes to the state.
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ADVANTAGES OF MAKING A WILL (click)
YOU determine who gets what and how much. You may wish to leave all your possessions to a friend or a charity and not to any family members at all. If you don’t have a will (if you die intestate) this will not happen.
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HOW TO DRAW UP A WILL (click)
If you are 16 years or older and are mentally capable of understanding what you are doing, you can make a will. You can draw up your own will – you do not need an attorney, however, to make it legal you will need to get it authorised at a magistrate’s court or at a police station. Two witnesses (who are not named in the will) must sign the will in each other’s company while you are also present.
It is advisable to have a will drawn up by someone who has experience (such as an attorney, a bank, or a trust company) because a professional person ensures that:
- Your will complies with all legal requirements. Non-compliance makes the will invalid.
- You are aware of the many options available to you, so you are able to draft the will exactly as you want it.
- The language used in the will is clear and easy to understand otherwise your instructions may be difficult to follow.
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CHECKLIST (click)
- Identify yourself clearly in the will.
- Sign the will on every page.
- At least two witnesses must sign on the last page of the will. Witnesses must be at least 14 years old.
- Date your will.
- Include a revocation clause if you want to cancel all your previous wills.
- Name an executor of your will. This person will ensure your will is carried out.
- Identify all your beneficiaries and supply all their names, dates of birth etc.
- Make your will reflect what you want as accurately as possible.
- Consider whether you want to put your property into a trust, and nominate a trustee. State in your will what you want the trustees to do with the trust property.
- You may also appoint a guardian for your children in certain circumstances.
- Update your will from time to time as your family and or financial circumstances change.
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