A valid Last Will and Testament is the foundation of effective estate planning and administration. This practical course examines the legal requirements for drafting and executing a valid will, common pitfalls that result in disputes, and how proper estate planning can ensure a person's wishes are carried out after death.
A Last Will and Testament is one of the most important legal documents an individual can prepare. It provides clear instructions regarding the distribution of assets, the appointment of an executor, and other personal wishes upon death. Failure to have a valid will can result in unintended consequences, delays, and the application of intestate succession rules. This practical course examines the legal requirements for creating a valid will under the Wills Act 7 of 1953, including competency requirements, signing formalities, witness requirements, and the impact of life events such as divorce. Participants will also explore practical estate planning considerations, including asset inventories, cremation and organ donation wishes, and the circumstances under which a court may condone a will that does not comply with all statutory formalities.
Key Topics Covered:
• Drafting of a valid Last Will and Testament
• Signing of a valid Last Will and Testament
• Competency to make a Last Will and Testament
• Effect of divorce or annulment of marriage on will - 3 months grace period
• Encourage your client to review their Last Will and Testament at least once a year
• Encourage your client to make a list of their assets at least once a year
• Cremation / organ donation
• Who can sign as witnesses to a Last Will and Testament
• Statutory requirements / formalities of valid Last Will and Testament - section 2 of the Wills Act no 7 of 1953
• If signed Will does not comply with formalities - section
2(3) of the Wills Act no 7 of 1953 – Court to declare Last Will and Testament valid
• Estate Planning Practitioners
• Fiduciary Practitioners
• Attorneys and Candidate Attorneys
• Executors and Prospective Executors
• Financial Planners and Wealth Advisors
• Accountants and Tax Practitioners
• Trust Officers and Estate Administrators
• Business Owners
• Individuals wishing to draft or update their wills
• Anyone involved in estate planning or deceased estate administration