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HOW TO GUIDE – GET A WILL IN PLACE
What to do?
How to do it?
Before getting started on drafting your Will, you must do the following:
RISKS = Failure by you to list, describe or decide on the distribution of your property to your heirs, will lead to confusion or even intestate succession. According to intestate succession, property will be distributed amongst your family (if no family, the State). If you fail to nominate an executor, the Master of the High Court might be doing so. If you fail to nominate a legal guardian, the High Court may be doing so.
Below is a basic template of a Will, however, it is advised that you approach a professional to assist with drafting of a Will, for example, an attorney.
RISKS = A Will is not valid if the above legal requirements are not met. A witness may not inherit from the Will that s/he signed. Failure by the testator to create a testamentary trust will lead to the inheritance of a child going to the Guardian’s Fund to hold for a certain period.
LAST WILL AND TESTAMENT
I, the undersigned,
______________________________ (insert full names of testator)
Identity Number: ________________
being __________________________ (insert marital status) and presently residing at _________________ (insert address) in the province of ______________________ (insert province), do hereby declare this to be my Last Will and Testament.
- Revocation clause
I hereby revoke all Wills, Codicils and other Testamentary Dispositions previously made by me, jointly or severally.
- Appointment of Executor
I nominate ________________ (insert full name and identity number) as Executor of this Will, should s/he fail to be appointed, I nominate ________________ (insert full name and identity number) to be the Executor of my estate.
- Power of Assumption
Should any person nominated as Executor in terms of this Will for any reason whatsoever decide to relinquish such office, such person will be entitled to resign from such office and prior to resignation thereof, in his/her absolute discretion assume a person of his/her choice to substitute him/her as Executor in terms of this Will. In the event of a joint appointment, the remaining nominee will be entitled to assume another person of his/her choice to succeed the person who cannot act.
I direct the Master of the High Court in terms of the Administration of Estates Act 66 of 1965 or any Acts amending the aforesaid Acts, to dispense with the finding of security by any Executor appointed in terms of this Will or assumed in terms of this Will.
- Appointment of Heirs
I wish for my estate to be distributed as follows:
(For example, something specific that must be inherited by a specific person; or the entire estate must go to one person or more than one person in certain percentages. Be as detailed as possible about the item and the person.)
- Exclusion of Community of Property
I direct that any inheritance or income accruing in terms of this Will shall neither form part of any existing or future community estate. The right of accrual as referred to in the Matrimonial Property Act 88 of 1984 is hereby specifically excluded from any inheritance received in terms of this Will. Such inheritance shall not be subject to the right of attachment or execution by any creditor of any spouse.
SINGED AT ____________________ ON THE _____ DAY OF __________ 20 _____
IN THE PRESENCE OF THE UNDERSIGNED WITNESSES ALL BEING PRESENT AND SIGNING AT THE SAME TIME AND IN THE PRESENCE OF ONE ANOTHER.