National Wills Week campaign

National Wills Week which runs until 16 September, aims to provide society with useful information regarding wills.

During this week attorneys who are participating will draft wills to the public free of charge.

Associate attorney, Elmarie Louw with Erasmus de Klerk Inc Attorneys, said that National Wills Week is about raising public awareness regarding a person’s right to have a will drafted and being able to decide who can inherit their assets. “During National Wills Week we offer to draw up a basic will according to the person’s instructions, free of charge.

“Any person who is over the age of 16 is competent to execute a will. For example, should a person pass away without executing a valid written will and the said person has a spouse and a child then both of the parties will inherit from the person’s estate. If the child is a minor, payment of the child’s inheritance will be made into the Guardian’s Fund and will only be able to claim the inheritance once the child has turned 18.”

She added that the biggest misconception about wills is that people’s estate will be handled exactly in accordance with your wishes that is declared in the will. Proper estate planning is necessary even in the smallest of estates, to make provision for variables including maintenance of spouses, minor children and applicable taxes.

“People without beneficiaries can still execute a will and in such an event most people nominate a charity organisation to inherit their estate. Should the person pass away without a will, the money from the person’s estate has to be paid into the Guardian’s Fund by the executor. If no competent heirs are found, the money is forfeited in favour of the government after 30 years,” concluded Louw.