It’s not an easy conversation, but death happens to us all.
Life is busy but your will is one of the most important documents you'll ever draft and all we need is an hour of your time.
Your will is important, so is planning for the costs of dying. Here's why:
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Meet Mark.
Mark is one of only 30% of South Africans who got his will in place in order to protect his family if he’s no longer around.
Why do your will with Capital Legacy?
Because whichever way you look at it, we have the solution all under one roof
The Will
With access to a specialist consultant, free collection and safe-keeping, and unlimited amendments at no cost, our services provide an easy and stress-free way to secure your will.
Your Beneficiaries
Our services offer the option to create a trust for your loved ones, especially those with disabilities, and provide a personal estate consultant to guide you through the process.
Your Estate
Our services provide the flexibility of choosing any executor, the assurance of established in-house professionals administering the process, and the option of covering costs up to 100% upfront.
Your Trusts
We will take care of all the trusts required by your will to ensure your beneficiaries are protected and get the most of their inheritance.
Did you know…
Capital Legacy was the first to bring out an insurance policy integrated with your will that pays for the fees and costs when you pass away. It's called the Legacy Protection Plan™ and has revolutionised the industry, helping more than 300 000 South Africans since we launched in 2012.
Calculate your cost of dying
No hidden agendas with us... There are costs but NOT for the will itself, rather the executor & trustee fees should you choose to appoint us. We have a solution for these fees but first, let's quickly help you estimate these.
How much is your estate worth?
What is the value of your properties?
Do you have kids younger than 18? *
Why do I need the Legacy Protection Plan™?
This policy is the most cost effective way to provide funding to cover your estate legal costs. It can also prevent massive delays in administering your estate, saving your family trauma and at worst financial ruin.
Affordable premiums for any age, with BIG benefits
Has no cease-age and covers you for your entire life
Includes cash benefits to plug gaps that your other policies cannot
For as little as R 111.70 pm
Integrated benefits
With the Legacy Protection Plan™
Immediate Liquidity™
When you pass away, your family could have limited access to money. Ensure there is money available to cater for things such as funeral expenses, travel arrangements, groceries and other immediate expenses. This benefit pays within 48 hours giving rapid relief to your loved ones.
Frequently asked questions
How would the Principle of Survivorship affect me if I have a joint foreign bank account or jointly own a property overseas?
Care should be taken when drafting a will for a South African who jointly owns a foreign bank account or investment account. If one joint owner passes away, the deceased’s share might not pass through their estate and may pass automatically to the surviving joint owner. This is known as the Principle of Survivorship. A caveat though, the Principle of Survivorship operates in the UK, Ireland, Jersey, Guernsey, the Isle of Man, and many other countries, but not all countries. For example, a husband who jointly has a bank account with his brother in the Isle of Man, should not make a gift in his will of his share in the bank account to his wife or anyone other than his brother. In circumstances where two or more people jointly own a property, the asset is held 100% in all names and this is called joint tenancy. When one of the owners passes away, the percentage holding of the other owner(s) increases. This differs from owning assets in tenancy in common, which has no right of survivorship and may be dealt with in terms of the testator’s last will and testament.
Can a non-Muslim relative inherit? For example, a non-Muslim wife?
No, but they can be allocated a bequest in an Islamic will, provided that the sum of all bequests does not exceed one-third of the estate. Alternatively, they can be nominated as beneficiaries of the MyCover™ extender on the Tazkiya™ Family Takaful.
What is accidental (implied or tacit) revocation of wills?
The simplest method of revoking a will is by validly executing a further will or codicil. A clear way of doing this is by including a revocation clause in the later will. For example, at the outset of the new will, it could simply state: 'I revoke all former wills and testamentary dispositions and declare this to be my last will and testament.' This simple clause will revoke all previous wills and codicils. But it might present problems when acquiring foreign assets in countries that do not have freedom of testation. As we have in South Africa, this simply means that the testator may leave his estate to whomever they want to. In some countries, e.g. France, the principle of forced heirship applies. Under these laws children are prioritised over spouses. Why should this be a problem? Let's assume a South African buys a property in France. He then draws up another last will and testament to leave the property in France and his properties in South Africa to his wife. But the property in France might end up going to his children, because France’s laws prioritise children over spouses. How could this happen? Simply because the last will and testament is subject to the laws of the country where the asset is situated. That part of the testator’s will is therefore accidentally revoked.
What happens if a person dies without a will in South Africa?
Estate planning is a crucial part of your personal finance journey, and at the heart of it lies your last will and testament. But what happens if a person dies without a will in South Africa? Without a will – or even with an invalid or outdated will – the law of intestate succession will apply, according to the Intestate Succession Act 81 of 1987. This means your estate will be divided according to a set formula, based on which relatives are alive at the time of your passing. If you die without a will and have no-one to inherit in terms of the Act, the money in your deceased estate will be placed in the government's Guardians Fund. If no heirs come forward to claim the money within 30 years, the funds will be forfeited to the state.With no will, there would also have been no appointment of an executor. The intestate heirs may nominate a person to be appointed as executor, however, the final decision lies with the Master of the High Court.One of the major consequences of dying without a will concerns guardianship for minor children. Your wishes might not be considered and the children might be placed in the care of someone you didn’t intend them to be placed with if you pass away without a will. Even the children’s inheritance will be at risk. You might have wanted to place the children’s inheritances into a trust, for example, to be paid out only when they reach age 25. However, without a will the inheritance will be paid into the government's Guardian Fund and could take years to pay out to the children.Apart from creating inheritance pitfalls, there are many other consequences of dying without a will. The importance of having a valid and updated will cannot be overestimated. This includes: Avoid family disputes: A well-drafted will can prevent family infighting and ensure that each beneficiary knows precisely what they will inherit. Efficient estate administration: Nominating an executor in your will streamlines the estate administration process and ensures that someone you trust manages your affairs upon your passing. You should also consider the peace of mind that a will gives you, and how it serves as a vital legacy for your loved ones, sparing them unnecessary worry and financial hardship in the future.We offer complimentary will-drafting consultations to help you create a comprehensive will tailored to your unique circumstances. Speak to your financial adviser or contact us to secure your legacy.
Do I need a lawyer to draft my last will and testament?
Your last will and testament is one of the most important documents you will ever sign. Drafting a will forms part of the process of estate planning and involves a range of considerations. While you do not, by law, need a lawyer to make a will, getting expert guidance can ensure that your will is valid and your final wishes are carried out effectively.There are several professionals who can help draft your will, such as banks, accountants, and organisations that specialise in wills. You can also draft your will yourself, granted that it meets all the legal requirements for a valid will. DIY wills are even available at stationery shops. However, there are significant benefits to having a professional help you draft your will.Other than the 'who', it is even more important to focus on the 'what' in your will, to meet the legal requirements of a valid will. Here, it is a good idea to ask an expert to draft your will.Anyone aged 16 years or older, who is mentally competent, can draft a will.A will must be in writing – either by hand or typed – and the signature of the person whose will it is (testator = male, testatrix = female) must appear on every page. These signatures must be made in the presence of two competent witnesses.Witnesses must be aged 14 years or older, of sound mind, and not be named in the will. They must sign in the presence of the person whose will it is, and of each other.Your original signed will should be held in safe custody. You can keep a copy for your records.Estate planning considerations refer to making a plan for everything you own, and everything you owe. The guidance of a professional can offer peace of mind. When you embark on your estate planning journey, it is to ensure that your assets are distributed the way you want and that your loved ones are provided for when you pass away. It also means making sure there’s enough money to settle outstanding debts and taxes, pay estate taxes and other costs associated with dying. Aspects such as your marriage regime, capital gains tax and any other applicable income taxes must also be considered. It can feel quite overwhelming. We are here to make the process as simple as possible. We offer a full suite of wills and estate administration services, all under one roof. For more information or to arrange your complimentary will consultation, speak to your financial advisor or contact us.
Does my SA will cover my UK assets?
A worldwide will works very well if you live in South Africa but have assets in a country with similar heirship laws to our own, such as the UK. Like South Africa, the UK has freedom of testation. It is important to have appropriate wills drafted to protect your estate and heirs suitably. You can either have multiple wills for each jurisdiction where you have assets, or you can draft a worldwide will to cover assets in different countries that have the same inheritance laws as South Africa. While certain countries follow the same rights of inheritance that South Africa recognises, there are others that are vastly different. However, a worldwide will or an offshore will can protect your estate if you are intending to relocate or if you are thinking of buying property abroad.
Not to brag, but we're kinda good at what we do.
Don't take our word for it though...