Write a Will
Over the past 2 years many articles about Wills have appeared in newspapers and magazines. What amazes me is that there are still so many people who have no Will! When I was still working as a financial adviser the mere mention of the word ‘Will’ was met with various reactions.
There were the ‘we don’t want to talk about death‘ people, invariably these were young people who gave death very little thought and because they were young, thought it wasn’t applicable to them and a waste of time. Do we have a choice not to die young?
Others again would become involved in heated discussions about ‘who gets what‘. The ‘what‘ often referred to minor things such as a specific necklace or ring, or a piece of furniture or painting.
My advice was always to draw up a Will that was as simple as possible, in simple language. Leave everything to the spouse and make him/her the executor. Make provision for minors if this is applicable. Revise your Will at least every 2 years and make amendments if necessary (things change for example if a spouse dies or an executor leaves the country – a new one must be appointed).
If you trust your executor (and it’s important you find one that you trust), include the provision that no security is required for the Master of the High Court. This simplifies things greatly, as security bonds can only be requested by attorneys, who will of course charge for this task.
NOTE: You can change your Will ANY time, as many times as you like. When in doubt, ask for advice!
I had a request from an HIV positive person to help him change his Will. It consisted of 5 pages of fairly complicated legal language. He wanted to leave his estate to his mother, who was also his one and only relative. He also wanted her to be the executrix of his estate.
I drafted a new Will for him – it was less than 1 page. He looked at it and said, “Is that all?” “Read it“ I said to him, “and tell me if this is what you want for your estate“.
He confirmed that it did indeed say everything he wanted it to, and his mother agreed. The new Will said in simple English that it was his Last Will, revoking previous Wills and codicils, that he left his entire estate to his mother, that she was nominated as the executrix and that no security had to be furnished. It was dated, signed by him and 2 independent competent witnesses (an heir can’t be a witness, remember that!), and that was that!
Be wise. Look at your Will now. Make the necessary changes if there are any. Don’t put it off, because we don’t know when our time is coming, however much we try and avoid it.
