Should you pass away without a Will – what is the cost to your family?
Should you pass away without a Will – what is the cost to your family?
Dying without a will in South Africa, also known as dying intestate, can have several costs,
both financial and emotional:
Financial Costs
Executor Fees
Someone must be appointed to manage your estate. Executors charge up to 3.5% of your
estate’s value, which can be a big amount.
Legal Fees
Sorting out an estate without a will can get complicated, especially if family members
disagree. This leads to high legal bills.
Admin Costs
There are fees for things like advertising the death, getting official documents, and
transferring assets.
Estate Duty (Tax)
If your estate is large enough, tax may be owed before anything can be distributed.
Emotional Costs
Family Conflict
Without clear instructions, families often argue about who should get what. This can cause
long-term damage to relationships.
Delays and Stress
Handling an intestate estate takes longer and can leave families uncertain and stressed
during an already difficult time.
No Control Over Who Inherits
The law decides how your assets are split, not you. This may go completely against your
wishes.
Other Problems That Can Arise
Guardians for Children
If you have minor children, the court chooses their guardian. It might not be the person you
would have chosen.
Maintenance Claims
Dependants may need to claim maintenance from the estate, which can complicate and
delay the process even more.
Why Having a Will Matters
Writing a will helps you:
Choose who inherits your assets
Appoint guardians for your children
Reduce family fights and confusion
Cut costs and speed up the process
Creating a well drafted will gives you peace of mind and protects your family when they
need it most. Speaking to a Mirathi representative to ensure your will reflects your specific
wishes.
