Why you need a Last will and Testament

Intestate Laws apply if you die without a Will

Without a Will, it is basically left up to the Master of the High Court’s Office and to determine how your Estate will be distributed and this will be done in accordance with Intestate Laws, which may not cater for your wishes.

You will have no say over how your assets are distributed and the process of making your assets (including bank accounts) available to your heirs becomes much slower.

As mentioned above, if you don’t have a Will, you die ‘intestate’ and making funds available to your beneficiaries usually takes much longer.

Funds for loved one’s day-to-day expenses can be frozen for months or years, this can be avoided by making a Will.

The terms of a Will must be followed.

If you die without a will, there is no guarantee that your wishes with be affected.

A Will can also help minimise family fights about your estate that may arise as it is clear how you wanted to distribute your assets.

A Will allows you to determine who should take care of your minor children if no biological or adoptive parent is available / alive.  Without a Will, the Courts would be tasked with choosing among family members or a state-appointed guardian. Having a Will, allows you to appoint a person you want to raise your children.

In your Will you can nominate your Executor.

The Executor will be responsible for winding up your Estate, including paying bills, notifying banks, distributing your estate according to the wishes you set out in you Will, etc.

People often appoint someone they trust as an Executor (trusted friend or family member – someone they expect to be around for a while still).

That person can handle the distribution of the Estate themselves or they may mandate an attorney to handle the technical side of the distribution process, as it is quite technical.  The Executor can also change the mandated attorney if they feel the attorney is not doing the job correctly.

It is also a good idea to name an alternative Executor, in the event that the first choice is not available for some reason.

Often people do not realise that they can stop certain people from inheriting should it be necessary.  Yes, you may wish to “disinherit” individuals who might inherit if you die without a Will.

Everyone’s situation is different and it may seem extreme but sometimes it may be the best way to handle a particular situation.

One example might be you want to clearly disinherit an ex-spouse.

You do not have this control without a Will. 

If you want to make donations to particular cause, institution, etc. upon your passing, you will require a Will.

It is not possible to make a gift or donation under Intestate Law.

A good reason for having a Will is that you can change it at any time while you’re still alive.  “Life events”, such as births, deaths, and divorce, can create situations where changing your Will is necessary.

If you have a small business, you can clearly designate how you want the business to be dealt with, which will create certainty and avoid conflict amongst your beneficiaries.

Unfortunately, mortality is part of life; there can be no avoiding it.  Many people do not have a Will because they do not want to deal with this unpleasant truth.

Sometimes the realisation that a Will is necessary comes too late – such as an unexpected death or disability.

For all the reasons above and because life is sometimes unpredictable one should always have an up-to-date Will, then if the unthinkable does happen, at least your loved-one are protected.

iLawyer offers a very comprehensive Will for R399.  You just answer the online questions, make payment and your personalised Will is automatically built and sent to your chosen email address.  Click here to go to our Last Will and Testament Product Information Page.

Then you just need to sign the Will properly and you are done.  For information about how to sign a Will properly go to our article: How to make your Will valid.