Family strife might result from no will or testament.
A will is vital for more than just wealthy people and TV characters who are willing to kill each other to inherit a parent’s wealth. A will simplifies death for your loved ones. Making a will ensures that your possessions are distributed according to your intentions after death.
If you don’t have a will, consider these:
- Nomination of preferred guardians for children is forfeited.
- Cherished valuables and heirlooms may fall into the wrong hands.
- Your assets are allocated according to South African law, removing your authority over inheritance.
- Delays in estate settlements can exacerbate the grieving process for families.
- Unclear wishes can lead to family conflicts.
- Your partner may be left with nothing.
Why you should sign your will
Signing and witnessing a will is just as significant. A last will and testament signed incorrectly or without ink is void and will be considered as if you died without a will. Over 70% of South Africans die without a will.”
Procrastination never works.
Unfortunately, few people sign and witness their wills.
- When is a South African will valid? The requirements for a will to be valid in South Africa are:
- Must be over 16 years old.
- Sign the will in ink (wet signature).
- The will must be signed by the testator/testatrix on each page and at the end.
- Both competent independent witnesses must sign the will simultaneously, on each page and at the end.
Who can witness a will and testament?
Independent witnesses are older than 14, mentally capable of testifying in court, not specified in the will, and not the spouse of anyone specified in the will.
A valid will drafted by a professional is essential for parents, breadwinners, homeowners, and others who want to organise their affairs. Professionally drafted wills reduce the likelihood of a judicial lawsuit against your estate. A legitimate will lets you specify your last desires, who should inherit your assets and property, who should be your executor, and who should be your minor children’s guardian. A legitimate will protects your loved ones and expedites estate settlement following your death.
Looking for assistance with your will?
Contact WVDW today!
011 476 1112 info@wvdw.co.za
#WVDW #WVDWFinancialServices #bookkeepers #accountants #business #individual #trusts #will