Khutso Tsikane and Elna Schutz from Wits Radio Academy together with Phale Musi and Jacob Matakanye the Paralegals from Messina Advice Office in Limpopo were on Musina FM on Friday the 12th of August. The name of the radio show is Areaganeng, meaning ‘Let’s build each other’ and the presenter is Portia Raphalalane. The topic was on how to write a will and why it is important to have a will. Both Messina Advice Office and Musina FM are partners of Citizen Justice Network. To understand more about Wills, keep reading…
Why is a will important?
It is important to have a will so your wishes are known around who gets your property, funds or goods when you die.
How do I make will?
You can make a will, or can have a lawyer make a will for you. After the will is made, you must sign the document along with two witnesses. Your witnesses do not need to know what’s in your will. Simply gather them around, say ‘this is my will’ and have them sign.
What do I include in a will?
A will can be in any language. A will needs to clearly reflect the wishes of the will maker. A will can also: Name your executor. Name guardians for young children and their property. State how to pay debts and taxes. Give details on what to do with pets. Serve as a backup for a living trust.
What is a ‘living trust’?
A living trust is a written legal document through which your assets are placed into a trust for your benefit during your lifetime and then transferred to designated beneficiaries at your death by your chosen representative, called a “successor trustee.”
What happens if one dies without a will?
Without a will, in many cases, state laws determine how one’s property will be distributed usually to his or her closest relatives like the spouse, children or parents (http://www.nolo.com ). ‘If a person dies without a will, the law sets out how their property will be shared out after all the debts have been paid. Without a will, it can be hard to work out who should apply for permission to deal with the deceased’s estate’ http://www.legalaid.wa.gov.au .
For more information about wills and terminology, go to the Financial Services Board on https://www.fsb.co.za