It is a subject many people prefer to avoid, but drawing up a Will and keeping it current is one of the most important things you need to do for yourself and the sake of your loved ones.

It is estimated that more than 80% of the South African population don't have Wills.

Why should you bother drawing up a Will?

That is easy to answer. If you do not have a Will in place when you pass away, you die 'intestate'. That means the courts create a Will on your behalf and divide your assets between your spouse and children. This can take months to finalise and your loved ones could be left without much-needed income. It could also cost your Estate money, which will leave less for the people you want to be looked after when you die.  

If you have a valid and legal Will in place, you get to decide how your Estate will be distributed, who will take care of your minor children and you can appoint an Executor.

Does being married - or not - make a difference?

Your marital status and whether you are married in or out of community of property does influence inheritance if you do not have a Will.

It is therefore vitally important to draft a Will with your legal advisor or MISA's Legal Department to ensure that your loved ones will be taken care of when you pass on.

Equally important is to keep the Will up to date and to ensure that it is signed and kept in safe custody.

Did you know?
As a MISA member, MISA will help you to draft a Last Will & Testament or Living Will, free of charge. If you do not have a Will as yet, contact our  MISA Legal Department today on +27 11 476 3920 or email Anita.Jacobs@ms.org.za. 

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