It is important to understand the importance of having a legitimate will.
Throughout one’s life, there is a focus on obtaining qualifications, gaining wealth and providing for those we love; it would be in vain to have these hard earned possessions distributed and enjoyed by those whom you did not have in mind.
It is your prerogative to determine who benefits from your estate and to ensure that this happens you must comply with the formalities of the Wills Act which include that if the Will is more than a single page in length, each page must be initialed by yourself and two competent witnesses in each others’ presence and signed in full by all on the last page. Be mindful that your beneficiaries should not draft nor sign as witnesses to the Will. Dating a Will is also important especially when revoking or replacing Wills.
The Will essentially empowers your Executor (whom you nominate to administer your Estate) to fulfill your final wishes. A Will gives clear direction as to who should be the guardian of your minor children, what should happen if both you and your spouse die simultaneously and can also be a vehicle to create a Trust where your chosen Trustees can administer funds for your minor children’s living expenses, education, etc. You can also direct whether you wish to be buried or cremated.
If you die without leaving a Will, the rules of the Intestate Succession Act will determine who inherits from your Estate and that may not be desirable.
Given its importance, it seems foolhardy to risk drafting your Will by yourself. Contact us to set up a consultation for advice on estate planning and for the drafting of your Will.