How to DIY a will in just 7 steps

A valid will is one of the most important legal documents you’ll ever create. Without one, the law decides who inherits – not you – and that can lead to disputes, delays and even court cases. As Wills Week kicks off, there’s no better time to make sure your wishes are respected. Here’s a simple 7-step guide to drafting a will that stands up in court and protects your loved ones.

Have your say in who gets the family silver – or the law will

A will lets you call the shots and name your heirs for everything from the couch to the family home.

Without a will, or if your will doesn’t meet the requirements for a valid document, your assets will be distributed according to the laws of intestate succession. This means that the beneficiaries in order of preference are the spouse of the deceased followed by the deceased’s descendants (biological or adopted children) and then the deceased's parents if there is no surviving spouse or children.  

Only a valid will stands up in court

A will is a legal document and must meet certain criteria to be valid. It is made by a person who is 16 years or older and must:

• Be in writing
• Name heirs or beneficiaries, the people inheriting assets
• Be signed by the testator, the person making the will, on every page with a pen
• Be witnessed by two people older than 14 years who are not beneficiaries or the executor

Draft your will in 7 steps

Open your laptop and create a new document or take out a sheet of paper and start drafting your will, working through each of the points below.

1. State that this is your last and final will, add the date, and your full name, including any previous surnames, for example Khumalo, nee Mkhize, and ID number. You should also state your marital status such as single, married in community of property or divorced.
2. State that you revoke previous wills, which makes them null and void so your ex cannot claim they are the sole heir as indicated on a previous version, for example.
3. List details of your assets along with who inherits them. Be specific and name assets and beneficiaries in detail, such as ‘I leave my property at 100 10^th Avenue, suburb, province, erf number, to my daughter first names, surname and previous surnames, ID number, married in community of property’.
   Alternatively, you can say you leave your entire estate or portions of it to beneficiaries, such as 100% to your spouse or 50% to your spouse and 50% to your child.
4. Name an executor who will be responsible for administering your will and ensuring your wishes are followed. Your executor can be an attorney, responsible family member or friend, but cannot be anyone who inherits your assets. You can also specify how much the executor’s fees are to a maximum of 3.5% (plus VAT) of the gross value of your assets, including a home, car, personal items such as jewellery and all investments.
5. Name a guardian for your minor children such as your parents or siblings who will take responsibility and care for your kids on your passing.
6. Sign and date the will on the last page and initial all the other pages.
7. Ask two witnesses to sign on the last page of the will.

Finally, tell your family members that you have a will and where it is kept so they can find it when the time comes. You can also tell them what your will states, who inherits and why.

Top tip: the gross value of your assets is the total value before deducting debts, taxes or administration costs.

Is it better to DIY or get an expert?

In some cases, using the services of an expert is advised. Answer yes to these questions, and you should consider using a professional to draft your will:

• Do you have any minor or dependant children you want to name as heirs?
• Are you paying anyone maintenance?
• Are you in a life partnership but not legally married?
• Is the value of your assets, excluding any debts, R3.5 million or more?
• Do you have offshore assets?

Top tip: consult an expert if you plan to leave assets to a married child and want to ensure those assets are excluded from any joint estate, so a spouse cannot claim them in the event of a divorce.

Experts on hand

Experts who can help you draft a will include:

• Truth About Money’s Wills and Estate Benefit
• Your financial adviser
• Your bank
• A lawyer
• A fiduciary professional

Your expert may charge by the hour but many will draw up your will for free, and expect to be named as executor, for which they are paid a fee. You are free to negotiate this fee.

Top tip: Sign up to the Truth About Money’s FREE Wills & Estate Benefit and our experts will draft a will for you and your spouse and assist with the winding up of your estate when the time comes.  

Avoid these mistakes at all costs

Take note of these! They could cause costly delays in the settling of your estate.

Ignoring ex-spouses and children

This is one of the most common causes of disputes. Always take children and ex-spouses into account, especially if you contribute financially towards their care.

Naming an undesirable executor

Executors have a long to-do list. They have to register the estate with the Master of the High Court, open bank accounts, ensure all debts and taxes are paid and distribute inheritances as per your will. Someone not up to the task could struggle, which will delay inheritances.

Not updating your will

Forget to add your new spouse to your will and your ex can inherit! Update your will at least once a year or whenever your circumstances or finances change, such as having a child, getting married or divorced and buying a new house.

Not telling anyone where your will is kept

You’ve gone to all the trouble to get your will in showroom condition. But it can only be acted on if your heirs and family know where it is.

Got an asset, get a will

Don’t make the mistake of thinking you don’t have enough money or assets to have a will. If you have an asset, even a small amount in a bank account, get a will. And do it today. Your loved ones will know exactly who gets what and your estate won’t take years to wind up.