Wills are a cornerstone of effective estate planning, ensuring that an individual’s assets are distributed according to their wishes after death. The importance of having a valid will cannot be overstated, as it provides clarity, reduces potential disputes, and ensures that loved ones are cared for.
A will is a legal document in which a testator (the person making the will) sets out their instructions for the distribution of their estate upon their death. It allows the testator to appoint heirs, legatees, and executors, and to make specific bequests. Without a will, the estate is distributed according to the rules of intestate succession, which may not align with the deceased’s wishes. For example, intestacy could result in unintended beneficiaries inheriting or the exclusion of individuals the deceased intended to provide for.
In the ever-evolving and fluid world that we have been embracing in recent years and continue to do so, drafting a will is particularly important for individuals in complex family situations, where blended families, multiple marriages and special needs dependents are becoming the norm.
A well-drafted will can address these complexities by including provisions for testamentary trusts, guardianship of minor children, and specific conditions for bequests. This ensures that the estate is distributed in a manner that reflects the testator’s intentions while also providing financial security for dependents.
The Wills Act 7 of 1953 governs the formalities for creating a valid will in South Africa. These include requirements such as the testator being at least 16 years old and mentally capable, the will being signed at the end by the testator in the presence of two competent witnesses, and each page being signed if the will consists of multiple pages. Failure to comply with these formalities can render a will invalid, leading to potential disputes and delays in the administration of the estate.
National Wills Month serves as an excellent opportunity to highlight the importance of having a professionally drafted will. It also underscores the risks of relying on untrained advisors or DIY wills, which can lead to ambiguities, non-compliance with legal requirements, and costly litigation. Consulting a qualified professional ensures that the will is clear, legally sound, and tailored to the testator’s unique circumstances.
National Wills Month is a timely reminder for individuals to either draft a will or review their existing one to ensure it remains relevant and valid.
For over five decades, Marwick & Company Inc, in association with Marwick Trustees (Pty) Ltd, have been South Africa’s trusted partners in estate planning, will drafting, and deceased estate administration. Our 52+ years of expertise means we understand the intricacies of the laws of succession in South Africa and the importance of protecting what matters most to you.
This National Wills Month, we’re extending our specialised knowledge to help you secure your legacy— your way, on your terms and for your complete peace of mind.
Don’t leave your family’s future uncertain. Whether you’re drafting your first will, updating an existing one, or need comprehensive estate planning advice, our experienced team is ready to guide you through every step.
Call us on 031-7656764 or email us on estates@marwick.co.za or shanels@marwick.co.za
Take action today to secure your future for tomorrow.