National Will Week started on Monday 16 September 2019 and will end on Friday. It is an opportunity for South Africans to draft their wills free of charge at participating institutions.
Majority of South Africans don’t have wills. A will is a legal document that sets out how your estate will be distributed when you pass on. It ensures who inherits your assets after death. It also names an Executor who will be a person you trust and who will be responsible for distributing your assets according to your wishes.
When one dies without a valid will, their estate will be distributed in terms of the Intestate Succession Act. Due to there being no Will setting out the deceased’s wishes, the Act sets out certain rules in respect of how the deceased estate must be distributed to his/her heirs.
The Act aims to distribute the deceased estate to close relatives first in a specific order. There’s high chances that this will not be the deceased’s wishes.
During National Will Week the public is encouraged to take advantage of having will drafted for free of charge.
Banks, High Courts and Law Firms throughout the country are drafting wills for the public at no cost. Ensure you have the name of your preferred Executor, ID Document, Spouse ID Document if married in community of property and a list of assets both movable and immovable. You must state who you wish to inherit what.
The opportunity ends on Friday. Normally to draft a Will costs between R250 to more than R1000.
by Douglas Mjekula