If you’re a South African citizen, it’s important to have a legal Will in place. This document outlines your final wishes and ensures that your loved ones are taken care of according to your wishes. Without a Will, the distribution of your assets will be decided by the courts, which can be a lengthy and costly process. The process could take longer than four years.
What happens if I die without a Will in South Africa
Your assets will be divided according to the intestate succession act, if you die without a Will in South Africa. This means that your spouse and children will inherit your assets in specific proportions. However, if you have no spouse or children, your parents or other relatives will inherit your assets.
Who drafts Legal Wills in South Africa
There are many different types of Will in South Africa, but who actually drafts a Will? In general, there are five categories of people who can help you draft your Will:
1. A professional Will drafter: This could be a lawyer, notary, or conveyancer. They will charge you for their services, but they will also make sure that your Will is watertight and compliant with the law.
2. An online Will service: These websites offer a do-it-yourself approach to Will drafting. They usually have templates that you can fill in and then print off or download. Some of them also offer additional services, like storage or online access for your executor. Note that South African Wills must be signed by the testator and witnesses using ink – digital signatures are not allowed. This effectively reduces the benefit of online Wills.
3. A friend or family member: If you trust someone to follow your instructions and you are confident they won’t make any mistakes, then asking a friend or family member to help you draft your Will can be a good option. Just make sure they understand what they’re doing!
4. Do it yourself: You can find plenty of resources online to help you draft your own Will. However, this is only recommended if you are comfortable with researching the law and feel confident that you can put together a legal Will. If your Will does not meet all the requirements of the Wills Act, it will be rejected by the Master’s Courts.
5. Recommended: Get an expert at Virtual Adviser to draft your legal Will free of charge via legal experts at Capital Legacy. Not only is the Will free but for a small surcharge the 3.5% (excluding VAT) cost is waivered. Simply fill this form to start the process. This is a limited offer so send your information today.
Who should I chose as executor of my estate?
One of the most important aspects of creating a will is choosing an executor – the person who will be responsible for ensuring your wishes are carried out after you die.
Choosing the right executor is crucial, as they will have a lot of responsibility and will need to be someone you trust implicitly. You choose someone who is organised and efficient, as they will need to deal with a lot of paperwork and practicalities. It’s also important to choose someone who is emotionally stable, as the role can be stressful and upsetting.
Ideally, your executor should be younger than you, as they’re more likely to outlive you. They should also be healthy and have no history of mental illness.
You can name more than one executor in your Will, and it’s often a good idea to do so. This gives your estate some flexibility if one of the executors is unable or unwilling to take on the role. You can also appoint alternate executors, who will only step in if the primary executors are unable to fulfil their duties.