Although we are in lockdown and may be working for home, many of us have a bit more time on our hands. Now is the time to spend time, on getting our personal admin up to date.

Is your will valid and up to date?

The truth of the matter is the following: Not having a will (or a valid one) at the time of your passing will, in all likelihood, have very little impact on you personally (for the obvious reasons). With that said, it’s your loved ones (and their loved ones) who will feel the effect.

The consequences however will not be devastating. It will not mean that your life’s wealth will be tied up in an elusive bank account which your loved ones will not be able to touch.

No, it is quite the opposite; your estate will devolve in terms of the laws of intestate succession. This set of rules, as infamous as they may seem, are not all bad. There are provisions placed in the Intestate Succession Act 81 of 1987 which ensure that those closest to you will receive your wealth, by means of a ranking system.

It is however the control element which is absent and which can, in certain circumstances, be vital.

In your will, directions can be given regarding, amongst other things, who is to receive what, who you appoint as the executor to administer your estate and who will be the guardian of your minor children. Provision can further be made for the establishment of a testamentary trust (should the need arise or should an already existing need be present).

There is however no use in preparing a will if the will is not valid in terms of the formalities set out in the Wills Act 7 of 1953. These formalities include, amongst others, ensuring that the will is signed at the end of it, having two or more competent witnesses attest and sign the will in the presence of the testator and of each other and ensuring that each page of the will, other than the page on which it ends, is also signed by the testator. It is important to obtain the appropriate legal advice when preparing and signing your will and it is equally important to ensure that your original will is stored in a safe and secure place.

There are only two things certain in life: death and taxes. Unfortunately, both are out of our control but at least with the former, its consequences and implications for our loved ones can remain firmly in our control should you have a clear succession structure encompassed in a properly drafted will.

Please do not hesitate to contact the NSV Team should you require assistance with updating or drafting of a new will.

Jack van Zyl 082 773 7076 / This email address is being protected from spambots. You need JavaScript enabled to view it.
Johan Slabber 083 454 8634 / This email address is being protected from spambots. You need JavaScript enabled to view it.
Marchelle van Zyl 082 850 8792 / This email address is being protected from spambots. You need JavaScript enabled to view it.

NSRI’S WATER-SAFETY TIPS

It’s always tempting to take the plunge when temperatures soar and you’re in the holiday spirit....

Safe banking over the festive season

The South African Banking Risk Information Centre (SABRIC), on behalf of the banking industry,...

Reflecting on the Year 2020

The year is beginning to wind down pretty quickly and most of us are trying to fit in as much as...

HOUSING PRICES SPIKE INTO DOUBLE DIGITS

  During South Africa's lockdown, the average house price went into a rapid decline, with...

LANDLORDS AND TENANTS: Know Your Rights

This year, many stressed South Africans have been forced to tighten their belts yet another...

POPIA – THE SUMMARY

PROTECTION OF PERSONAL INFORMATION ACT (Also known as POPIA) Why do we need the Protection of...

Rent Versus Salary - What South Africans can afford accommodation?

Even before the global pandemic, South Africa was in dire a dire economic situation. Acting as a...

DECEASED ESTATE PROPERTY TRANSFERS

During a person’s lifetime, he/she will accumulate assets as well as liabilities. The assets can...

THE IMPORTANCE OF HAVING A WILL

    Most people do not know whether their loved ones have executed a Will, where...

PROS AND CONS OF EACH TYPE OF PROPERTY OWNERSHIP

Though many might not be aware of it, there are three different forms of homeownership in South...

EVERYTHING YOU NEED TO KNOW BEFORE HOUSE HUNTING

With more affordable property prices and bank approval rates at historically high levels, coupled...

FAQ's When Buying or Selling a Property

Q: To whom do I pay the deposit? A: The Purchaser’s deposit can be paid either to the estate...

CERTIFICATES OF COMPLIANCE

If you are selling your property, then you are going to most certainly need a number of...

PROPERTY PRICING - WHY AND HOW TO GET IT RIGHT

When it comes to putting a property on the market,  some sellers believe listing the property...

MY TENANT WANTS TO BUY, CAN THE RENTAL AGENT CLAIM COMMISION?

With the interest rate at a low 7%, tenants are finding that it might be cheaper to purchase...

HOW MANY CONVEYANCERS DOES IT TAKE TO TRANSFER A PROPERTY?

Buying or selling a property for the first time is a milestone event in any person's life....

DIVORCE & ACCRUAL – LIVING ANNUITIES AN ASSET IN THE ESTATE

In the case of CM v EM it was held in the Supreme Court of Appeal of South Africa...

BUILDING VS HOME CONTENTS INSURANCE KNOW EXACTLY WHAT YOUR INSURANCE COVERS

It appears that many South Africans took the opportunity to do renovations at their homes, during...

HOW TO FAST TRACK THE PURCHASE OF YOUR PROPERTY

Purchasing a property is a big decision, one in which the buyer will have...

THE IMPORTANCE OF A LIVING WILL 

What is a living will? A living will is a document that lets people state their wishes...

SOUTH AFRICAN WOMEN'S DAY

Have you ever wondered why we celebrate Women’s Day on the 9th August in South Africa? It has...

DOES YOUR HOME OFFICE QUALIFY YOU FOR A TAX DEDUCTION?

Does your home office qualify you for a tax deduction? As the old adage goes, change is as good...

HOLD ON TO YOUR STATUS AS A HOMEOWNER

Clients in financial difficulties in these tough times can get to keep their homes, provided they...

THE PANDEMIC AND BUSINESS INTERRUPTION COVER, CAN YOU CLAIM?

  “…it must be asked whether, but for the Covid-19 outbreak, the interruption or...

THE MEDIA MAY BE CALLING IT AN "ACT OF GOD", BUT WHAT DOES THE LAW SAY ABOUT FORCE MAJEURE AND COVID-19?

When disaster strikes it is easy for the world to fall into disarray. The impact of natural...

A DAY IN THE LIFE OF A CONVEYANCER DURING THE COVID 19 PANDEMIC!

A DAY IN THE LIFE OF A CONVEYANCER DURING THE COVID 19 PANDEMIC! Armed with comfortable shoes,...

Electronic Signatures in Property and Other Transactions

“To sign a document means to authenticate that which stands for or is intended to represent the...

POPI COMES INTO FULL EFFECT ON 1 JULY ARE YOU READY?

Protection of Personal Information Act “POPI” Comes into full effect on 1 July 2020 Are you...

QUESTIONS TO CONSIDER DURING THE REPORTING OF AN ESTATE

Questions to consider during the reporting of an estate   How do I report an estate to the...

ALL YOUR PROPERTY QUESTIONS ANSWERED!

All your property questions answered!   Experts answer your questions on property matters...

NO FFC - NO COMMISSION NOT ALWAYS THE CASE?

NO FFC – NO COMMISSION NOT ALWAYS THE CASE?   Estate agents are not entitled to earn...

LANDLORDS MUST 'GET REAL' ABOUT PROPERTY PRICE EXPECTATIONS

Article By Bonny Fourie Property 360 / 7 June 2020 Property is only a sound investment if you...

BUYER'S MARKET LIKELY TO LAST

Article courtesy of Property 360:  25 May 2020 No rush if you want to buy – market will go...

4 SMART THINGS YOU CAN DO RIGHT NOW TO SAVE MONEY DURING SA’S DEEP COVID-19 RECESSION

South Africa was headed for a recession way before Covid-19 turned everything upside down. As a...

PROPERTY SELLERS – PREPARE FOR SPLUMA

Many factors can delay your property transfer, and all of them are likely to cost you.  A...

WHAT ARE YOUR RIGHTS WHEN IT COMES TO FORCED COVID-19 TESTING?

As the COVID-19 pandemic is spreading across the globe, Minister of Health, Zweli Mkhize has...

How to make a will and get it witnessed

Locked down during the pandemic: How to make a will and get it witnessed The last few weeks have...

IS YOUR HOUSE IN ORDER?

Getting your house in order involves big things, such as having life insurance and a valid will,...

WHAT HAPPENS TO THE SIGNED ANTENUPTIAL IF YOUR WEDDING CEREMONY IS POSTPONED DUE TO COVID-19

The Covid-19 pandemic and the national lockdown that was implemented in order to contain the...

Arrested under the Disaster Management Act?

Arrested under the Disaster Management Act? You have the right to challenge it! Admission of...

The risks of dying without a will (Albeit not a valid one)!

Although we are in lockdown and may be working for home, many of us have a bit more time on our...

DO TENANTS STILL HAVE TO PAY RENT DURING LOCKDOWN?

 Following please find answers to the pertinent questions regarding the payment of rent...

TIPS FOR INVESTING IN PROPERTY FOR RETIREMENT

Have you ever wondered if real estate is a sound investment? Well, it certainly can be! There are...

FAQ’S FOR DIVORCES

HOW LONG DOES THE DIVORCE PROCESS TAKE? A divorce action can be finalised within one month or it...

NEW RULES FOR WHO GETS THE KIDS THIS WEEKEND

Who gets the kids this weekend? Following please find new regulations around the movement of...

WESTERN CAPE RENTAL CONSIDERATIONS

In recent times the Western Cape has become the area to stay in. With the spectacular sea view or...

WHAT TO LOOK OUT FOR BEFORE BUYING A PROPERTY

You’ve searched far and wide for the perfect home for you and your family, and you’ve finally...

CONTACT OUR PAARL OFFICE

Email: paarl@ngolaw.co.za
Tel: +27 (0)21-870-1185
Address:
 138 Main Road, Paarl, WC 7646

CONTACT OUR TYGERVALLEY OFFICE

Email: info@ngolaw.co.za
Tel: +27 (0)21 914 4481
Address: 
5 Ground Floor, Bateleur Office Park, Pasita Road, Tygervalley