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Why it's essential to have a Will |
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Saturday, 14 August 2010 08:16 |
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Many people associate the making of a will with death and often ignore this important matter - sometimes with disastrous and irreversible consequences.
In the course of your lifetime you sign numerous documents and contracts regarding individual assets in your estate, for example the sale of a house or car. These contracts are usually well considered decisions. In contrast to these, in a will you dispose of all your assets on death in a single document. A will is therefore an extremely important document.
By making a will you ensure that your assets are disposed of in accordance with your wishes after your death. This privilege is called "freedom of testation".
In the event of your dying without leaving a valid will, your assets will be inherited according to the provisions of the Intestate Succession Act
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