Why a will matters
Your Last Will and Testament should ideally be drafted alongside your broader financial plan. First and foremost, a will ensures your wishes are clearly recorded for your loved ones, family and friends, rather than leaving your estate to be distributed according to the default rules of intestate succession, which may not reflect your actual intentions.
What makes a will valid
To be valid, a will must be properly drafted and duly signed by the testator or testatrix in the presence of two competent witnesses, who must also sign the will in the testator's presence. Importantly, an heir nominated in the will may not sign as a witness, as doing so can affect that person's capacity to inherit under the will.
What a will typically covers
- Nomination of an executor to administer your estate
- Distribution of assets to your chosen beneficiaries
- Guardianship nominations for minor children
- Any specific bequests, such as sentimental items or charitable gifts
Keeping your will current
A will should be reviewed after marriage, divorce, the birth of a child, a death in the family, acquiring significant assets, or starting or selling a business — essentially, whenever your circumstances or wishes materially change.
AJ van Tonder Inc Attorneys