Where there's a WILL, there's a way

We can't avoid dying, but we can avoid leaving a mess. With National Wills Week from 11 to 15 September, it's never been easier to have your will drafted and get peace of mind

- SYLVIA WALKER

Someone once told me she didn’t want a will because that would tempt fate! As silly as that may sound, the idea of a will reminds us of death – something we prefer not to think about. But having a valid will ensures all loose ends are tied up and your family is taken care of. What's not to like about that?

Why you need a will

As you travel through life, you accumulate assets and may build debt. You may also have children or other dependents. A will stipulates what should happen to all of this when you die – how your dependents would be cared for and your assets distributed.

It’s every parent’s nightmare to think they may die before their children have grown up. A testamentary trust can be created in your will so that money for your children is well managed, ensuring their education and living expenses are taken care of. You also need to decide who gets what when it comes to your assets.

You can leave them to anyone, as long as it’s not impossible to execute or offends public morals, according to Wafiq Davids, an estate practitioner at Siyatec Executors. ‘For example, a bequest cannot be made to a son on the condition he divorces his wife.’

The other side of the coin – dying without a will – could result in a chaotic situation that takes years to finalise. You would die intestate, and your assets would be distributed according to a strict hierarchy, starting with your spouse and children. If you didn’t have either of these, your parents would inherit. If your parents were no longer living, other family members would receive your assets.