Get a Will and Testament now!

How to get a will.

(We use Capital Legacy, unique and now the number one provider of wills in South Africa).

  1. You can get a will, by drawing up your own will and signing it. (NOT suggested. Consider that a will states your wishes- yet for those wishes to happen, you are going to need to know what happens when you die, what takes precedence over what and so on. So, if you simply state your wishes… how are you sure that the estate will have enough cash to meet your wishes, that your will can be followed the way that you want?)
  2. You can go and get a “will” document from a stationer or from the web. (NOT suggested. The only difference between this and point 1 – drawing up your own will- is that there may be better legal language in the draft copy from a stationer. But you still have absolutely no idea whether your wishes can be met on death).

    Would you draw up your own deed of sale on your house??? And that’s just one asset.

  3. You can get a will drawn up through your bank or life insurance company. This is a good option. Many insurance companies and banks have the necessary expertise and personnel to help with getting a will. Usually there would be an upfront fee though and the negotiation of fees on death, will only be accommodated for large estates.
  4. You can get a lawyer to draw up a will for you. (Note July 2018– there is a new option from Capital Legacy that will allow you to use your lawyer – and- ensure that they are paid on death, without the fees eating up your estate.)This will cost you. Firstly, you need a lawyer that has the skills necessary for estate planning (not all lawyers do this). Secondly, you will be paying for time or fees of a professional, so this would have a larger upfront fee than the bank or insurance company option.
  5. You can use the method I prefer to get a will. You use a specialist will/ fiduciary company- we use Capital Legacy Solutions (Pty) Ltd.- (July 2018: Capital Legacy have launched FANTASTIC new benefits)
  • They will draw up a will for you at no cost.
  • They also have a unique Capital Legacy Protection Plan- whereby you can choose your plan, the fees on death {Executors fees, Testamentary Trust fees and Conveyancing Attorney fees} are then paid from the Protection Plan to Capital Legacies fiduciary company- which keeps the costs low for your Estate and the Immediate Liquidity benefit is also paid to your beneficiaries on your death.
  • This way you have no upfront costs for the will, if you take the Protection Plan you solve some of your estates costs on death.
  • This allows for your heirs to inherit without having to pay the extra costs from their inheritance. The solution is a low cost one… affordable by most people. You don’t even have to be underwritten (disclose your full health status) for the first two plans.

Why get a Will?

I’m trying to keep this page short and easy to understand.

If you don’t get a will, the Laws of Intestate Succession apply, which means that; those you want to inherit, may not be the ones who do inherit.

Getting  a will is the only way to state your wishes on death.

Here is a short video from Capital Legacy that shows the “real” costs on dying… worth a watch.

Some tips when you get a will?

  1. Make sure that you correlate your life policy beneficiaries with what you want in your will. Only policy amounts paying to the Estate are dealt with by the will.
  2. Nominating a guardian  of your children doesn’t take away the other natural parent or the legal guardians rights. Often a single mother will nominate someone other than the biological father as guardian. He is still the biological parent. Guardian nominations can only take effect when there is no surviving biological parent, or legal guardian. Here’s a link to the DOJ, Guardians and Custodians page with an explanation of the Guardians Fund.
  3. Indicate that a Testamentary trust is created for the inheritances of minor children, otherwise the monies should be paid into the Guardians fund. (Money invested in the Guardians Fund is invested with the Public Investment Commission – PIC- need I say more?). Here is a link to unclaimed funds in the Guardians Fund- this is updated every September. Also, how can you be sure that your minors know they have money sitting unclaimed in the Guardians fund, especially when they are very young at your death, i.e. how can you trust that they will be notified?
  4. Appoint a proper Executor. If you nominate a family member, etc. as an Executor- the Master can turn down their appointment (they would need to know procedures on death, etc.). Rather appoint the family member, friend, etc. as a co-Executor. They can then still give guidance on circumstances to the Executor.
  5. If you are a business owner: make sure that your will and buy and sell agreement are looked at together.
  6. Make sure that you update your will whenever you have life circumstances that change: birth of a child, new business, etc. etc.

Business owners- a Corporate offering specially for you.

If you would like to add some further value to your employees lives, we have an offering for you.

Capital Legacy ( the provider we use) can come and do a presentation on the importance of a will to your staff.

They can tie in understanding of beneficiary nominations (unapproved- group life risk benefits and approved funds -tied in to your pension/ provident funds).

Your staff will have an opportunity to get their own wills in order, with a complete understanding of what they are accomplishing as part of the process.

You can contact us on form below and I will arrange for Capital Legacy to contact you for the request.


If you are a member of SAIPA (South African Institute of Professional Accountants)- there is a SPECIAL OFFER, just for you: SPECIAL OFFER.

SAIPA one pager


Islamic wills are also offered, vetted and compliant with Islamic law.

For more on this, please click for the post on the Islamic will here.


 

If you are an individual and would like to apply for a will and a Capital Legacy Protection Plan, you can complete the contact form below.

The first step will be completing the Wills Application… this gives us an understanding of your requirements, which we will then verify with you.

The Legacy Protection Plan™

Request for Will