A will is a legal declaration which lays out the fate of your property after your death. It names one or more of the persons to manage your estate & who receives your property and in what amounts.
Why Should you have a Will?
When a person dies without making a Will they are said, in law, to have died intestate.
This means that rather than having their estate distributed in accordance with their wishes as contained in a Will, the law takes over and the “intestacy rules” apply:
|Deceased is Survived by||How the Estate is Divided|
|Only surviving spouse||Total Estate goes to the spouse|
|Only descendants||Total Estate is divided between descendants|
|Spouse and descendants||The spouse gets a child’s share (R125 000), and the balance is divided equally between the descendants|
|Both parents||Total Estate is divided equally between both parents|
|One parent only||Total Estate goes to the parent|
|One parent & descendants||Half the Estate goes to the parent ; balance is divided equally amongst descendants|
|No spouse, No descendants , No parents, but descendants through mother & descendants through father||Estate divided into two parts:Half to descendants through mother Half to descendants through father|
|No spouse, No descendants , No parents, No descendants through mother or father||Estate goes equally to Blood Relatives that are nearest in degree of relationship.|
We offer a no-obligation consultation to discuss planning for this inevitable event. As much as we all do not like to think about it, proper planning will make things a bit easier during this sad time and ensure that your wishes are fulfilled.
Please feel free to get in touch with us using one of the options below.