NATIONAL WILLS WEEK
17-21 September 2018
Why should an attorney draft your will?
A will should be a bespoke and tailor made document to suit your particular situation.
An attorney is learned in the law and requirements pertaining to the drafting of a will as well as the winding up of an estate, accordingly they are able to advise you of the best way in which to structure your will in order to ensure that your worldly possessions are handled and distributed according to your specific wishes upon your passing. Further to the drafting of a will, the correct procedure when signing the will is just as important. The risk of not complying with the requirements set out in the Wills Act 7 of 1953, is that a person may be disqualified from benefiting from a will to which they were a beneficiary.
The risk of not complying with the provisions set out in the Act is that the will could be invalid and your heirs may not receive their inheritance in the proportions you wish or at all. Dying intestate may result in heirs not having access to the funds for example, in the event of a minor inheriting intestate, their inheritance will be paid to the Guardian’s Fund as a consequence of no testamentary trust being created by a will. Your minor heirs will lose flexibility of having trustees administering their investments. The inheritance will remain in the Guardian’s Fund until such time as the heir is competent to receive same. If the inheritance is not claimed after a period of 30 years from the funds having become claimable, the funds are forfeited to the state.
You should be consulting a professional person with experience in drafting wills.
Please bring the following with:
– Your ID document (and for your spouse if you have a joint will).
– A list of what you own (including specific personal items that you wish to bequeath to specific people) and who should get what.
The Law Society of South Africa at (012) 366 8800.
National Wills Week is a joint initiative of the LSSA and its six constituent members: the Black Lawyers Association, Cape Law Society, the KwaZulu-Natal Law Society, Law Society of the Free State, the Law Society of the Northern Provinces
