By now we’re sure you would have heard how important it is to have an up to date Will. It is one of the first things a financial advisor will cover when you do a financial plan.

In case you need a refresher, below are just a few highlights:

  • Justice.gov.za says the following about how your estate will be distributed should you pass away without a Will:

“All deceased estates will be distributed in terms of the Intestate Succession Act.
This means that the beneficiaries in order of preference are:

  • The spouse of the deceased
  • The descendants [including adopted and illegitimate children] of the deceased
  • The parents of the deceased (Only if the deceased died without surviving spouse or descendants)
  • The siblings of the deceased (Only if one or both parents are predeceased)”

 

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