That figure has barely shifted in years. And for the families left behind when someone passes away without one, the result is often confusion, delay, and conflict that could have been avoided entirely.
Without a will, the law decides for you
When a person dies without a valid will, the Intestate Succession Act 81 of 1987 takes over. This Act follows a fixed hierarchy of relatives and distributes your estate accordingly. Your personal wishes, your relationships, and your intentions play no role in that process.
If a spouse and children survive the deceased, the spouse receives the greater of a child’s share or a minimum amount determined by law, with the children sharing the balance equally. That may sound straightforward, but the Act has significant limitations.
It makes no provision for long-term partners who are not legally married. While a recent amendment has opened a limited door for permanent life partners who can demonstrate a reciprocal duty of support, the protection is not automatic and having a will remains the only reliable safeguard.
It cannot exclude people you have no wish to benefit. Relatives you have grown apart from may still inherit simply because the Act places them in the line of succession.
It cannot direct any part of your estate to a friend, a charity, or anyone outside the statutory hierarchy. If those relationships matter to you, they must be reflected in a will.
It cannot protect what goes to your minor children. Without a testamentary trust in place, a child’s inheritance is converted to cash and held in the state’s Guardian’s Fund until they turn 18, a process many families find slow and difficult to navigate.
And in the rare but real scenario where no qualifying relatives can be found, the estate passes to the state. If no heirs come forward within 30 years, the money is forfeited entirely.
An outdated will has its own risks
A will that has not been reviewed in years may no longer reflect your life as it is today.
Consider the divorce scenario that catches many people off guard: if a testator passes away more than three months after a divorce without updating their will, the law assumes they intended to keep the ex-spouse as a beneficiary. That former partner may then inherit, regardless of what the testator would have wanted.
The same applies across a range of life changes. Marriage, the arrival of children, the death of a named beneficiary, a significant new asset, or a change in business circumstances can all affect whether your current Will still does what you intend. Reviewing your Will at least once a year, and after any significant life event, is the most reliable way to keep it aligned with your wishes. Beneficiary nominations on retirement funds and life insurance policies should be reviewed at the same time.
What makes a will legally valid
Not every document that looks like a will is enforceable. The Wills Act 7 of 1953 sets out precise formalities, and South African courts have a long record of declaring wills invalid where those formalities were not followed.
The will must be in writing. The testator must sign it at the end of the document and on every page. Two competent witnesses must be present when the testator signs and must sign the will themselves at the same time. Neither witness may be a beneficiary or have any financial interest in the estate.
The original signed document must also be stored securely with a trustworthy person or institution. A copy is not considered a valid will under South African law. This is one of the most commonly overlooked aspects of will-drafting, and one of the strongest reasons to work with a professional who offers formal safekeeping.
A will and estate planning work together
A will records your wishes. A comprehensive estate plan ensures those wishes can actually be carried out. The two work together, but they are not the same thing.
Many estates are asset-rich but cash-poor. Without sufficient liquidity, heirs may be forced to sell property or business interests to settle debts and taxes, often at a poor time and for less than fair value. Planning ahead prevents this.
For parents of minor children, a testamentary trust established through the Will offers far greater flexibility than the Guardian’s Fund. It allows you to specify who manages the funds, on what terms, and when your children receive their inheritance.
For business owners, a carefully drafted Will supported by appropriate agreements can provide continuity and protect both the business and the family that depends on it.
Speak to a financial advisor
Whether you are drafting your first will or reviewing one you have had for years, professional guidance makes a meaningful difference. A qualified financial advisor can help ensure that your will is valid, your estate is structured appropriately, and that the people who depend on you are properly provided for.
Securitas® Financial Group offers free drafting and safekeeping of your Will, assists with reviews and amendments as your life changes, and provides full support for your family through the estate administration process when the time comes. If you are unsure whether your current Will still reflects your wishes, or if you have not yet put one in place, it is worth speaking to one of our specialists today.
Did you find this article insightful? You may want to read How Tax-Free Savings Accounts and Retirement Annuities Fit Into the Picture and Why You Need a Financial Advisor as well.
