Given that so many people do not have a valid Will in place, a question beckons; ‘what happens to their possessions once they die?’ It is important to note that a Will is rendered null and void if it doesn’t meet the requisites stipulated in the Wills Act No. 7 of 1953(“the Wills Act No.7 of 1953”). Section 2(1)(a) of this Act states that for a Will to be legally enforceable, the following is to be met:
- The will must be signed at the end by the testator (the person who is making the will) or by another person on the testator’s behalf in the testator’s presence and in terms of a direction given by the testator;
- The signature, as set out above, must be made in the presence of two or more competent witnesses who are all present at the same time. A competent witness is anyone over the age of 14 who is of sound mind and can understand the consequences of his or her actions;
- The witnesses must sign the will in the presence of the testator or the person signing on his or her behalf and in the presence of each other;
- If the will has more than one page, every page must be signed by the testator or the person signing on his or her behalf and the witnesses;
- If the will is signed by the testator by the making of a mark (for example, by using a fingerprint) or by someone else on his or her behalf, a magistrate, justice of the peace, commissioner of oaths or notary public must certify at the end of the will that the testator is known to him or her and that the will is that of the testator. If the will has more than one page, it must be certified as such on every page.
What will happen to your assets/possessions if you die without a valid Will?
Given that you die without a valid Will in place, the Intestate Succession Act No.81 of 1987 comes into effect. This Act ascertains who will inherit your assets/possessions. A number of scenarios :
- You are survived by a spouse, but you have no children :
- Your spouse will inherit all your assets and possessions.
- You are survived by one or more children, but no spouse:
- If you only have 1 child, the child will inherit all of your assets and possessions. Given that you have more than 1 child, your assets and possessions will be shared equally amongst your children.
- You are survived by one or more children and a spouse.
- In terms of your spouse, they will either inherit a child’s share or R250 000 or whichever is the greater amount. Your child or children will then inherit the rest of your assets/possessions equally.
- You are not survived by a spouse or children but are survived by one or both of your parents :
- Given that both of your parents are still alive, your assets/possessions will be shared equally amongst them. However, given that you only have 1 surviving parent, he or she will inherit half of your assets/possessions and any children of your deceased parent will inherit the remaining half. Further, given that your deceased parent had no children, your surviving parent will inherit all of your possessions/assets.
- You are not survived by any blood relatives:
- Your assets/possessions will be handed over under the custodianship of the government.
For any other scenarios, don’t hesitate to reach out :
Do ensure that you have a valid Will in place as per the Wills Act otherwise the Intestate Succession Act will be effected on your assets/possessions.
Do reach out to Manzankosi Corporate Legal Consultancy for any assistance in relation to ensuring that your assets/possessions are distributed according to your wishes and desires when you die.
