All too many South Africans have died without a will – which is fundamental in leaving a legacy for their children and grandchildren. Legacies and bequests can be an important source of income.
According to the Office of the Master of the High Court, 70% of South Africans do not have a will. Apparently, the number continues to increase.
It is important to understand that a will stipulates someone’s final wishes, which could be very specific.
In some cases, for instance, a person can decide to donate to charity. Some South African charities provide premade codicil forms that you can fill in.
However, leaving money to charity can be contentious if family members stand to lose out. For non-profit organisations, this can create legal headaches and costs, especially if the will is later contested in court by the seemingly indignant family.
“Donations or a collection at the end of (or at) a funeral or wake is customary in many traditions.
“However, this places a burden on the family of the deceased having to collect the money and make the donation to the charity at a time when they themselves have other things to worry about,” said Jannie Smith, regional manager of GivenGain in sub-Saharan Africa.
Having a will in place helps to resolve any disputes.
