Frequently Asked Questions
Who needs a will?
Any person who is over the age of 16 years and has the necessary legal capacity.
Why do you need a will?
You can dispose of your assets according to your wishes;
You can incorporate estate planning;
You can protect the bequeathed assets e.g. testamentary trust for minors, insolvent beneficiaries;
You can nominate a guardian for your minor children;
You can nominate an Executor/s and Trustee/s of your choice;
You can incorporate your preferred funeral plans;
Complications in finalising offshore estates could arise
What happens if you die without having made a will?
The Law of Intestate Succession will determine who will inherit if you die without a will. This could mean that people who you did not want as beneficiers of your estate could nevertheless inherit. A further delay in proceeding with the administration of the estate could arise from the appointment of an Executor who may have to provide security to the Master of the High Court.
It is always preferable to have a will which specifies your chosen beneficiaries and executor and avoids the many complex problems which can arise in the absence of one.
When do you need a will?
Good reasons to consider revisiting your will or getting one drafted, include:
Birth or adoption of children
Purchase of fixed property
Establishment of business ventures
Receipt of an inheritance
Can you draw up your own valid will?
The law does not prevent a lay person from drawing up his own will but there are many legal formalities which must be complied with for the will to be valid. Often these are overlooked by the inexperienced will draftsman with the result that the will is rendered invalid, a situation which may only be capable of rectification by a costly application to the High Court. In addition, there are many issues which may need to be dealt with in your will which might not be considered unless professional advice is sought.
Additional Benefits Offered by Kaplan Blumberg
We will keep your original will in safe custody, free of charge