East Coast Radio - Catch Up Consumer Hacks with Wendy Knowler

Where there's no will, there's a formula

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Two thirds of us don't have a will. That’s what emerged from legal insurance company LAW FOR ALL’s recent survey of 1800 South Africans.

And plenty of us are wrong about what happens next.

Four in ten believe a spouse automatically inherits everything. Not so. Without a valid will, the Intestate Succession Act decides, according to a set formula, and if there are children, your spouse could be sharing the estate with them.

A quarter thought the family decides. It doesn't.

And no, you are not obliged to appoint a bank as your executor, despite what some free will-drafting offers suggest.

So get a will.
15 Oct English South Africa Education · Self-Improvement

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