A WILL IS THE WAY

It's time to get your final affairs in order 'for free' this September

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SEPTEMBER is Wills Month.

Around 75 percent of South Africans die without a valid will. This can lead to ugly, traumatic showdowns between family and friends after people die.

En mense baklei lelik oor geld as familie dood gaan!

Luckily, many organisations (including banks) draw up free wills, especially during September, which is Wills Month.

Capital Legacy, a leader in wills and estates, answered some frequently asked questions.

What are the requirements for a will to be valid?

For a will to be valid in South Africa, it must adhere to the requirements set out in the Wills Act 7 of 1953.

These requirements include that:

■ The person making the will (the testator) must be over the age of 16 years.

■ The will must be in writing.

■ The testator must sign the will on each page, and at the end.

■ The signing of the will should be witnessed by two competent, independent witnesses, who sign on each page and at the end of the will too.

Who can witness a will?

Someone who is:

■ At least 14 years old and of sound mind.

■ Not mentioned in the will as executor, trustee, heir, legatee, or beneficiary.

■ Not the spouse of anyone named in the will.

What is the difference between a trust and a will?

A will is a document that contains your final wishes for how you want your estate to be distributed when you pass away.