The power of a proper will

SIGNED, SEALED, VALID: WHAT MAKES A LAST TESTAMENT LEGALLY BINDING AFTER DEATH

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Many people think they know all there is to know about a last will and testament but they actually do not.

Do you know what happens if you die without a will? Or that witnesses cannot benefit from your will?

Even when you have substantial assets, the absence of a valid will or the presence of multiple conflicting wills can leave families facing uncertainty, delays and legal complexities.

“A will gives you control over how your estate is distributed. Having a valid will is not just about protecting your assets but about protecting the people you love and giving them clarity and certainty during a difficult time,” says Faeeza Khan, senior legal specialist at Liberty.

She stresses that South Africans should not take having a will for granted.

“Contrary to popular belief, anyone, regardless of their social or financial circumstances, should document their wishes to safeguard their assets and ensure those wishes are honoured after their death,” she says.

Khan says these are the things you should know about a will:

If you die without a will, the law decides for you

In South Africa, the Intestate Succession Act determines who inherits if you pass away without a will. This means your assets are distributed according to a fixed formula, not necessarily in line with your wishes.

Children under 18 cannot inherit directly