Web Content Viewer (JSR 286)

Drafting a will

If you have dependents or assets, such as a house, money in the bank, savings or investments, creating a will is important. It specifies what must happen to those assets after your death.

A will is your instruction to your executor as to how to distribute your assets to your loved ones.

It is one of the most important legal documents that you will conclude in your lifetime, as it deals with your entire estate - all of your assets and liabilities.

What you need to know

It is crucial that your will is professionally drafted, because when you are no longer around you will not be able to correct mistakes.

An unclear, confusing or badly worded document can be as much of a burden to your family as having no will at all.

It can lead to challenges and litigation from people who may feel that they are not inheriting what they should be.

This can result in added delays for your family and increased costs for your estate, in the form of legal fees and potentially unnecessary estate duty, income tax or VAT.

Who should have a will?

If any of these apply to you, it is essential that your affairs are regulated by a will:

  • You have minor children.
  • You live with someone, but you are not married to them.
  • You are divorced and pay maintenance to a former spouse or children from a previous marriage.

What are the risks of not having a will?

If you do not have a will, there are numerous risks:

  • There could be delays in dealing with your estate - which could affect your family if they rely on you for an income.
  • The beneficiaries to your estate will be determined according to the law of intestate succession - this legislation determines the closest blood relatives and then distributes your assets accordingly, often to people you didn't intend to benefit.

Partnering with you on your journey to financial wellness

Schedule of fees

We charge professional fees for a comprehensive range of estate planning, advisory and Momentum Trust services.

Download the fee schedule

Find out more

For professional help with leaving a legacy:

  • Ask your financial adviser to arrange a consultation with one of our Momentum Trust specialists
  • Call us on 0860 000 107
  • Email us at: momentumtrust@momentum.co.za