When it comes to estate planning, drafting a will seems straightforward. However, there are key legal nuances and requirements many people overlook, which can result in unintended complications for your heirs. In this blog series, we’ll highlight some often-overlooked facts about wills and testaments that may surprise you. By knowing these, you’ll be better equipped to avoid pitfalls and ensure your final wishes are honoured. Here are two important things you need to know about creating a legally sound will.
A will must be signed in the presence of appropriate witnesses
A common misconception is that a handwritten and signed will is automatically valid. However, it must be signed in the presence of witnesses, and not just any witnesses. Certain individuals, such as the executor or beneficiaries, cannot witness the will, or it may be invalidated. Origin’s expert advisors can guide you through this crucial process to ensure your will is fully compliant with the law.
Are handwritten wills considered valid in SA?
A handwritten will is indeed legal in South Africa. However, there are a few requirements that need to be met. The person drafting the Will:
- has to be sixteen (16) years or older;
- may be the testator/testatrix;
- may NOT be anyone who has been specified in the will (i.e. the executor, trustee, heir, or legatee[s]) or their spouses.
- The will should be legible and free of any errors.
At Origin, we ensure your will is legally airtight and protects your loved ones from future challenges.
An executor doesn’t have to be a family member
You might think that an executor of a will must be a family member, but this isn’t the case. In fact, it’s often beneficial to appoint a neutral third party. Origin’s fiduciary team, made up of legal advisors, qualified and practicing attorneys, chartered accountants, associate general accountants, and full members of the Society for Trust and Estate Practitioners (“STEP”), have the required expertise and knowledge to act as the executor of your estate or assist and act as agent of your chosen executor with the necessary legal and administrative duties to ensure that everything is executed seamlessly.
Special rules apply when minors are named as beneficiaries
If your will names minor children as beneficiaries, it’s essential to set up a trust or name a guardian to manage their inheritance until they reach adulthood. Origin specialises in creating testamentary trusts and inter vivos trusts, ensuring that your minor beneficiaries are provided for securely and responsibly.
In conclusion:A valid will isn’t just about signing on the dotted line. By adhering to the legal requirements and avoiding common mistakes, you can ensure that your will stands up to scrutiny. In the next part of our series, we’ll discuss other interesting facts surrounding estate planning and how life events can affect your will. Stay tuned!
16 – 20 September 2024 is Free Wills Week in South Africa. If you need any help with your Will and Testament, you can send an email to wills@originfin.com for free assistance. Contact the Origin Group today for assistance and ensure your will and affairs are in order.
