|
Your will is one of the most, if not the most important document you will ever sign. It’s alarming that less than 15% of South Africans pass away with a valid will in place. The laws governing the validity of wills in South Africa are very strict and often a will is not accepted by the Master of the High Court because of a minor formality that has not been met. We will very briefly discuss the formalities as set out in the wills act as well as pitfalls we have come across in practice over the years.
The Wills Act of 1953 stipulates formalities required for a valid will, which are briefly as follows:
To take things a step further, the below mentioned provisions may not have the consequences of a will being invalid but may make parts of the will invalid or unenforceable and have unintended consequences.
When signing a will take special care with regard to the following:
It’s important to mention that beneficiaries under the age of 18 cannot inherit cash, and to ensure that minor beneficiaries inheritance does not go the state (Guardians Fund) you will need to add a testamentary trust to your will where the money can be managed by the trustees till the minors reach the age of 18 years.
The often most important aspect overlooked when it comes to wills is that the Master of the High Court only accepts original wills, if the original will has been lost or misplaced a court order must be brought in the High Court declaring the copy to be deemed an original. This is an expensive and time consuming endeavour, so if you can, sign your will in duplicate so you have a spare original.
We at Cornell Horn Attorneys can provide you with a properly drafted will. Contact us at [email protected] or give us a call on 021 891 0505, we will be happy to assist you with putting your affairs in order.
Get the latest updates in your email box automatically.
Your nickname:
Email address:
Subscribe
Contact Us