September 14 to 18 is National Wills Week, giving South Africans the opportunity to have their last Will and testament professionally drafted by attorneys, free of charge.

The importance of a valid Will is vital in ensuring that your last wishes are honoured and that provisions made for your loved ones in the event of your death, thus making a tangible impact on navigating life without you.

Your lasting legacy could further impact lives of those outside your circle, by making provision in your estate planning for charitable bequests.

Jan L Jordaan, of Jan L Jordaan Inc. Attorneys, Rynfield, emphasises the importance of regularly revisiting your estate planning, stating that Wills Week, is a great time to do so.

“Reviewing your Will is not only taking into consideration how your estate will provide for your loved ones but how your legacy will be preserved through your support of a charitable organisation,” said Jordaan.

“South African law allows you to include a charitable organisation as a beneficiary in your Will. You may leave a specific cash amount, an asset, percentage of your estate or a share of the residue of your estate.”

Charitable bequests

When including a charitable bequest in your Will, it is important that the organisation is clearly and correctly identified.

You should obtain:
• The organisation’s full registered or legal name.
• Registration number, such as its Non-Profit Organisation (NPO) or Non-Profit Company (NPC) number.
• The registered or principal address.
• Confirmation of its Public Benefit Organisation (PBO) status.

This information should be verified before the Will is signed, particularly where an organisation operates under a name that differs from its registered legal name.

NPO, NPC and PBO, what is the difference?

“These terms should not be confused,” said Jordaan.

“An organisation may be registered as a NPO or NPC, but this does not automatically mean that it is a PBO, approved by SARS. The distinction is important for Estate Duty purposes.

“Under section 4(h) of the Estate Duty Act 45 of 1955, a bequest to a qualifying public benefit organisation may qualify for a deduction when determining the dutiable amount of a deceased estate, the organisation’s status should therefore be confirmed rather than assumed.”

Ensuring a well drafted Will

Jordaan continues to explain that charitable bequest should be clearly expressed and the beneficiary sufficiently identified.

“Simply stating that you leave an amount of your estate to your favourite charity, could create unnecessary uncertainty,” explained Jordaan.

“A drafted Will must also comply with the formal requirements prescribed by the Wills Act 7 of 1953, including the applicable signing and witnessing requirements.”

It is further advisable to consider what should happen if the organisation changes its name, merges with another organisation, ceases to exist or can no longer accept the bequest.

“Appropriate wording should be included in the Will, to address such circumstances.”

Including a charitable organisation in your Will is a meaningful way to continue supporting a cause that is important to you even after death.

If you would like to include a charity in your Will, discuss your wishes with a suitably qualified legal practitioner to ensure that your wishes are properly and clearly incorporated.

Other information required when drafting a Will:

• The clients’ identity documents.
• Information regarding the nominated beneficiaries, including their full names, surnames, ID numbers or dates of birth.
• Clear, practical and legally executable wishes regarding the distribution of an estate.

Although National Wills Week draws to a close this Friday (September 18), Jan L Jordaan Inc. Attorneys, in conjunction with the Legal Practice Council, will offer free Will drafting until the end of September.

For more information or to set up an appointment call 011 748 4500 or email wills@janljordaan.co.za

ALSO READ: National Wills Week: what you need to know

ALSO READ: How to bequeath your estate to a charity