The Ultimate Will Checklist
Ensuring your Last Will and Testament is accurate, precise, and legally sound to protect your legacy and your loved ones.
1. Ensuring Legal Validity
2. Accuracy & Clarity
Ambiguity is the enemy of an effective Will. To avoid interpretation issues:
- Identify Heirs Clearly: Use full names, ID numbers, and their relationship to you.
- Bequeath Percentages: Assets fluctuate in value. Bequeathing 50% of an estate is often fairer than a fixed Rand amount.
- The “Left-Overs” Clause: Always deal with the residue of your estate to avoid dying “partly intestate.”
- No Blank Spaces: Don’t leave gaps between paragraphs that could allow for fraudulent insertions.
3. Protecting Your Family
Minor Children
Set up a Testamentary Trust to manage assets until they reach a certain age. Always appoint a guardian and a substitute guardian.
Life Changes
Update your Will after a divorce. Under Section 2B of the Wills Act, an ex-spouse is only excluded if you die within three months of the divorce.
Safe Keeping
The original Will should ideally be kept in a fire-proof safe by your executor or a fiduciary company. While your loved ones don’t need to see the contents now, they must know where to find the copy if tragedy strikes.
Pro Tip: Always include a ‘revocation clause’ to nullify all previous Wills and ensure the current version is dated correctly.
Is your Will a true reflection of your wishes?
Provided by: Sue Torr, Crue Invest
