Dying intestate or without a valid will, causes myriad problems, the greatest of which is that you cannot always be assured that the person that you want to receive your assets will do so. You can also not confirm who will be responsible for your estate (i.e. executor) or what happens to the funds in the event of a beneficiary being a minor. This together with numerous other considerations are dealt with in a professionally drafted will. So why the discussion on how many wills do I need? The use of multiple wills often arises when people also own assets in countries other than SA for different reasons. Some purchase assets using their various South African Reserve Bank allowances and some may have inherited assets from nonresident family members. Others may have worked in foreign jurisdictions for a time and some may have accumulated assets before permanently moving to SA. So why can a professionally drafted will not be used for one's worldwide assets? The short answer is that somet...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now