The importance of having a will has been stressed as the life expectancy for both men and women has dropped by over three years since the advent of the coronavirus pandemic.
“With South Africa well into its third wave of Covid-19 infections and a fourth wave looming, the constant presence of death serves as a reminder as to how quickly things can change, and sadly, how quickly life can be taken away.
It is estimated by the Master of the High Court, she said, that about seven out of every 10 in South Africa's working population do not have wills in place. “If an individual dies without leaving a valid will, their estate will be administered according to the Intestate Succession Act, 81 of 1987. “A child’s share is determined by dividing the monetary value of the estate by the number of children plus one. The spouse will, therefore, inherit only a portion of the estate, and the spouse and the children will become co-owners of the assets, which is often impractical,” she said.
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