National Wills Week, running from 15 September to 19 September, aims to promote public awareness around the importance of having a valid will. During this period, members of the public can draft wills free of charge through participating legal practitioners nationwide.

A will is a legal document that outlines the distribution of your assets after your death. It may include instructions for your funeral, the selection of beneficiaries, the appointment of an executor to oversee your estate, and the appointment of a legal guardian to look after your minor children.

High percentage intestate deaths

More than 70% of South Africans pass away each year without a will, which often leaves families in financial distress, according to a recent report by the Financial Sector Conduct Authority.

“Having a valid will in place ensures that your choices are respected and costs are kept to a minimum. With a valid will, you can choose a trusted executor and determine how your funeral should proceed,” said Allan Gray senior legal adviser, Reo Emmett.

A will also allows you to specify exactly who should or should not benefit from your estate and in what proportion. “Without one, there’s a risk that your loved ones aren’t adequately provided for.”

National Wills Week: Do you have a valid will? Photo: Facebook

“A will can also minimise the possibility of disputes between loved ones, because it is a legally binding record of your wishes. Death is already a challenging time; we should do whatever we can to make this time easier for our loved ones, and a will can help with that.”

There are various reasons why people do not have wills, including procrastination, fear of death, concern about not having sufficient assets, lack of awareness, and limited education.

The Intestate Succession Act 81 of 1987 is a South African law that governs the distribution of an estate when a person dies without a valid will. It establishes a hierarchy of beneficiaries, starting with a living spouse and children.

OFM News/Zenande Mpame mvh