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What is a will?
Your will is probably the most important document you will ever sign. You draft a will while you are alive, but its instructions are only carried out once you pass away.
A will, also known as a last will and testament, is a legal document that stipulates how and to whom your assets (e.g. property, vehicles, jewellery, investments, etc.) should be distributed when you pass away. It could also include your final wishes, e.g. whether you want to be buried or cremated, whether you are an organ donor, or who you wish to be your children’s guardian, should you pass away when they are still minors. Your will should also name a person as the executor of your estate, and they will be responsible for administering the deceased estate.
For your will to be valid, it must comply with the Wills Act. The principle of freedom of testation is one of the cornerstones of the law of succession in South Africa. This allows the person whose will it is (testator = male, testatrix = female) to distribute their assets as they wish. By drafting a valid will, you provide guidance on how your estate should be administered, once all the relevant legislation, such as the Children’s Act and Maintenance of Surviving Spouse, have been considered. Documenting your final wishes in your will allows you to exercise your freedom of testation, regardless of how complex or simple your familial relations and financial obligations may be.
When you die without a will (intestate), there are laws that determine how your deceased estate is administered (distributed) and you have no say in matters. Too many people put off the important task of drafting a will until it's too late. This can have devastating consequences for your loved ones.
We do not charge for the drafting, amendment, collection, safekeeping or retrieval of your will. Speak to one of our expert Testamentary Consultants today to get a valid will in place. It requires about an hour of your time.