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.
Call us on 039 311 2100 or email us at Salome@bekkerinvestments.co.