“One of the most common mistakes people make regarding estate planning, is not having a will.”
Yasmeen Bhamjee, an attorney from Flip Coetzer Inc in Tzaneen says a will is a crucial document which every individual of legal age must have.
Bhamjee describes a will as a formal signed written document with instructions on how one wishes to dispose their assets when they die.

She added that other common mistakes people make include having an unfinished will which is not signed or correctly witnessed; not updating a will when circumstances change and not getting proper advice on disposing of assets.
Her advice is to get an attorney, financial advisor or go to a bank to ask for assistance with estate planning.

Conditions of drafting a will include; must be 16-years and older; the will must be in writing; each page of the document must be witnessed and signed by two witnesses; anybody mentioned in the will such as an heir, guardian or executor or their spouses are not allowed to witness the will.
The Tzaneen attorney says it is important for a person with a will to communicate with their family and inform them that he or she has a will and where they can find it in the event of their death.

Also read: Words matter when drawing up your will

If a person dies without a will, their assets will be distributed according to the Intestate Succession Act.
This act states that if you die without leaving a valid will, your estate will devolve according to the Intestate Succession Act, 1987 (Act 81 of 1987).
This means that your estate will be divided amongst your surviving spouse, children, parents or siblings according to a set formula.

The downside of the act is that sometimes the deceased’s wishes might not be fulfilled and a delay in appointing an executor.
For more information on drafting a will, visit any financial institution or a law practice. Financial institutions such as Old Mutual also have free wills that can be downloaded online.
You can also contact Yasmeen Bhamjee on 015 307 7585.