This is why you should have a will

POLOKWANE – As next week is National Wills Week, we look at the importance of having a basic will drafted.

Malesela Moloto from Malesela Moloto Attorneys, says the process of drafting a will is very simple and informal, like a conversation between the signatory and the attorney.

“The signatory gives a list of all the assets which he or she wish to add to the will. It is important to give as much details about the assets for example, if it is a house the physical address of the property, in event of the furniture indicate where the furniture is, what kind of furniture it is and how much there are, like one table or 10 chairs. If it is a vehicle, what model, colour, year and make it is. After all assets are listed, the signatory will then give a list of the people who the person which to make the beneficiaries of the assets,” says Moloto.

He adds that once the will has been signed, the testator receives a copy of the will and the original stays in the possession of the attorney.

“It is important to tell your family about the will, so that when you die the family knows who to contact in regards with your assets. No one can change the will after the testator has passed. In event circumstances change the testator can make changes to the will. The person can make adjustments and the previous will be amended,” he says.

According to DDKK Inc, by drafting a will, you ensure your assets are disposed of in accordance with your wishes after your death. This privilege is called “freedom of testation”.

An attorneys should draft your will as they are professionals qualified in law. An attorney can advise you on any problem which may arise with regard to your will. An attorney has the necessary knowledge and expertise to ensure that your wills valid and complies with your wishes.  Often a will is not valid because the person who drafts it does not have the necessary legal knowledge to ensure that the requirements of the law are met.

If you die without leaving a will, your assets will be distributed according to the provisions of the Intestate Succession Act. The provisions of this act are generally fair and ensure your possessions are transferred to your spouse and children.

But the following problems may arise if you die without leaving a will:

• Your assets may not be left to the person of your choice.
• It can take a long time to have an executor appointed. The executor who is appointed may be somebody you may not have chosen yourself.
• There can be extra and unnecessary costs.
• There can be unhappiness and conflict among members of your family because there are no clear instructions on how to distribute your assets.

Click here for a list of the law firms in the city who will participate in National Wills Week.