Your last will and testament is the essential tool in the administration of your estate after you die. Death can be a difficult time for families, one way that you can help your family during this difficult time is by making sure you have a valid will.
What is a will?
A will is a legal document that outlines how a person’s assets, possessions, and property should be distributed after their death. It’s a way to ensure that your loved ones are taken care of and that your wishes are respected. Without a valid will, the process of distributing your estate can become complex, and there’s a possibility that your assets might not end up where you intended them to go.
Why do I need a will?
Without a last will and testament, the law considers you to have died without a plan. This means your estate will be handled based on the Intestate Succession Act, not your preferences. This process can be long, costly, and emotionally tough for your family. Additionally, parts of your estate could end up in the hands of unintended recipients or even the State.
How do I make a will?
- Speak to an attorney to draft your will: they know a lot about wills. They can guide you in making a will that’s legally right, so you don’t have problems later on.
- Have another professional draft your will: banks, chartered accountants, boards of executors, insurance companies, trust companies and various individuals who have the necessary qualifications can help you draft a will.
- Draft it yourself: you may draft your own will, but it needs to follow the legal formalities to be valid. We don’t recommend this option if it can be avoided.
What should be in my will?
At the very least, your last will and testament should:
- Beneficiaries: Identify who you want to receive your assets.
- Distribution: Explain how your belongings and property should be divided among these beneficiaries.
- Executor: Name someone responsible for carrying out your wishes.
- Guardianship: If you have minor children, designate a guardian for them.
Actions you can take:
- Ensure your estate is dealt with correctly after you die by asking us to draft you a last will and testament, which includes your digital life.
- Deal with your digital life by asking us to draft a digital will as an addendum to your will.
- Ensure that your views are clear for doctors and family members in the event you cannot present your own views for yourself by asking us to draft a living will.
- Make sure everyone understands your will by converting it into plain language.
Helpful Tip
We like to encourage a friendlier society so we’d like to draw your attention to the fact that every year the Law Society of South Africa (LSSA) organises National Wills Week where you can have a basic will drafted for free by participating law firms.