Greater than 75% of South Africans cross away with no legitimate will in place, inflicting devastating penalties for his or her households and dependants.
To assist fight this statistic, the Regulation Society of South Africa (LSSA) promotes Nationwide wills week, yearly, and collaborating attorneys supply their will-drafting providers for primary wills for free of charge to purchasers.
wills Week is often in September, however as a result of Covid-19 and lockdown, the LSSA has formally introduced that Nationwide wills Week will likely be from 26 – 30 October this yr.
Why have a Nationwide Wills Week?
The truth is that most individuals know they want a will, however statistics present that South Africans are infamous procrastinators.
In a latest survey we performed, we requested folks why they haven’t received their wills so as. The outcomes?
- 43% of respondents mentioned: “I simply haven’t received round to it”.
- 27% mentioned: “I’m unsure the place to get my will performed”.
- 21% mentioned: “I believe it may be costly to get a will”.
- Solely 9% of respondents mentioned they assume they don’t want a will.
So, with greater than 75% of South African’s passing away with no will in place, it’s not essentially an consciousness concern – it’s an training concern. Folks have to know what devastating penalties their households and dependants will face in the event that they have been to cross away with no will.
In our enterprise, we see the truth of households struggling to take care of the lack of a cherished one virtually day-after-day. This battle is infinitely tougher when the guardian’s affairs should not so as.
Having a Nationwide Wills Week is so essential – however it’s not sufficient. For us, each week is wills week. We’re truly making it wills month. Once we see how we’re serving to households of their darkest hour, we’re nonetheless additional motivated to proceed our quest to alter the stats of a nation.
The highest 5 penalties of passing away with no will
- You forfeit the chance to resolve who inherits what and your property is distributed in accordance with South African legislation. This implies folks whom chances are you’ll not have wished to learn out of your Property might inherit your property and household heirlooms.
- Your accomplice could also be left with nothing if you’re not married, or your will isn’t up to date from a earlier marriage.
- Your kids’s inheritance might cross to the Authorities Guardian’s Fund or appointed guardian quite than to a Belief that may guarantee your needs for them are carried out.
- Household feuds usually happen when relations argue over the distribution of your property in case your ultimate needs should not clearly documented in a will.
- Winding up your property can take years – with no will appointing an expert executor, the federal government is basically in command of the method.
“Your kids’s inheritance might cross to the Authorities Guardian’s Fund or appointed guardian quite than to a Belief that may guarantee your needs for them are carried out.”
At Capital Legacy, we have now devoted the final eight years to serving to extra South Africans get legitimate wills in place. We have now helped greater than 300 000 folks up to now and are dedicated to altering the statistics of our nation.
A part of our efforts on this endeavour is to assist extra folks perceive why it’s essential to finalise their will, the opposite half is to make it straightforward and handy for them… so there’s no excuse to not get this essential activity performed.
Our mission is to assist extra South Africans get legitimate wills in place and alter the stunning statistics we see out there. Please don’t procrastinate – get your will sorted immediately.
Alex Simeonides – CEO and co-founder of Capital Legacy.