07 Nov Don’t Let Your Legacy Slip Away: Write Your Will Today

Posted at 10:21h in Wills and Estate Planning by

Writing a will is crucial for maintaining control over your assets even after your death. Imagine: after your death, your family gathers to figure out who will get your house, businesses, and other assets. “Did he write a will?” your daughter asks. She rifles through your paperwork and looks up. Dismayed, she says “He didn’t write a will…”

If you don’t write a will, your assets will be distributed according to the Intestate Succession Act. The Act details that your assets will be distributed according to familial hierarchy: first to your spouse and children. If you don’t have a spouse and children, your estate will fall to your parents and siblings. Should your parents and siblings not be alive, your estate will be equally distributed to your blood relatives on your mother and father’s side.

What if you want to leave your estate to your close friends, or donate your assets to a charity? Write a watertight will. This way, your assets won’t be distributed by the government or be given to the state if you don’t have any blood relatives.

If planning your own last will, it might not be valid under South African law. Let’s discuss what makes a will valid in South Africa, what should be in it, and why you should enlist the services of a professional to protect your loved ones.

Dive into what makes a will valid with Credit Boost.

What Makes a Will Valid in South Africa?

For a will to be valid in South Africa, it must adhere to the strict requirements set out in the Wills Act of 1953. The Act stipulates certain formalities that must be followed to reflect your wishes accurately. This is to prevent fraud or undue influence.

Firstly, a will must be written to be valid. Then, the testator (you) must be at least 16 years old and capable of understanding the repercussions of writing a will.

Execution Formalities

There are certain compliance frameworks your executor must follow for your assets to be properly distributed.

  • The will must be signed at the end by the testator, or by someone else on their behalf in their presence and under their direction.
  • At least 2 competent witnesses must sign the will in the presence of the testator.
  • Every page (except the last) must be signed by the testator or person signing in their capacity.
  • Any updates to a will after it’s been executed must follow the same signing and witnessing procedures as the original will.
  • Beneficiaries can’t be witnesses.
  • If a witness is named beneficiary, the appointment is automatically deemed invalid.
  • If someone can prove a testator was unduly coerced or tricked, the will is invalid.

Certain important aspects should be included in your will. You should specify:

  • Your chosen will executor.
  • Who your beneficiaries are.
  • Your children’s guardians.
  • A pet and digital asset directive.
  • Who your trustees will be.
  • How you would like your assets to be distributed.

You can read more about this in our free last will template.

Write your will today.

If you would like help planning a will, contact Credit Boost. Our will and estates lawyer will help you plan your will in-depth and in compliance with South Africa’s Wills Act of 1953. Write your will today!