DO YOU HAVE A VALID WILL?
What is a WILL?
A Will is a legal document which sets out who is to be in charge of administering your estate (your executor) and who is to receive your assets (your beneficiaries) when you die.
What happens if you die without a Will?
If you die without a Will, the distribution of your assets is determined according to the rules of Intestacy and distributed according to a pre-determined formula. Your spouse will have the primary entitlement to your estate after your death, followed by children, parents, brothers and sisters and so forth. There is a prescribed order of inheritance under the Succession Act and dying without a Will could mean that your estate is open to claim from an eligible relative. If your only living relatives are more distant than cousins, then your estate will pass to the government.
Why should you make a WILL?
You should make a Will so you can express your intention as to how your estate is to be distributed after your death and to provide adequately for all relevant family members especially in blended families. You can also document your burial wishes, donations to charity organisations and even care of your pets. Making a Will also avoids cost, delay and difficulty for your family in administering your estate and reduces the potential for dispute.
Can you make your own WILL?
A Will is an important LEGAL document. It is therefore advisable to have your Will drafted by a legally qualified professional to ensure your wishes are properly recorded and carried out. There are strict requirements to ensure that a Will is valid. A professional will ask you all the right questions to make sure that you have considered every possibility and your Will is still the best instrument for you and your family.
Contact us to discuss your particular situation and your family’s needs.