The Last Will & Testament is one of the most important legal documents every adult should hold. Even more important to have when you are a parent or married with a family.
This written document instructs and expresses the way an owner of property wishes to give away his assets in the event of his death. For a last will & testament to stand in court, it must be valid and meet the following points:
- Must be correctly signed, dated, witnessed
- Must be 16 years or older
- Sign every page where testator (male) or testatrix (female) is indicated
- You need 2 able & independent witnesses to also sign when you are signing
- Witnesses must be over the age of 14 years
- Witnesses must sign on every page
- The names and surnames of signing witnesses must be included in the document
There is also a list of people who may not sign as witnesses, these are:
- Beneficiaries
- Executors
- Guardians
- Trustees
In the event a person dies intestate (without a valid will in place), your property (estate) will be divided amongst your surviving spouse, children, parents, or siblings accordingly to a “set formula” – basically meaning the master’s office will decide who gets what. This can take years and until the matter is resolved, all your assets will be tied up.
Having a valid will in place allows for the passing down of wealth from one generation to the next, ensuring children will never have to start from the bottom as their parent’s might have.
One could argue it’s the best love letter to leave your loved ones.
