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07 September 2021

Rustenburg – Covid-19 made a lot of people realise that we are not immortal. Covid-19 hence also made a lot of people realise that they should have a will. 
If you die without a will, an act of Parliament, namely the Intestate Law of Succession, 1987, prescribes who will inherit your estate. This is one very good reason to rather sign a will in which you, amongst others, can stipulate who should inherit which of your assets. Here are some other reasons.
In the will you can cater for:
The possible divorce of a child of yours – the inheritance of the child can be excluded from a marriage in community of property and the accrual system;
The possible insolvency of a beneficiary of the will – you can use an insolvency trust to ensure that creditors of the beneficiary will not receive the inheritance;
Substitution and accrual, i.e. what happens if a beneficiary passes away before you?
Your children inheriting your estate whilst also providing for the maintenance of your spouse;
A trust for your minor children – otherwise, cash and inheritances of minor children are paid to the Guardians Fund of the Government.
Contact Van Velden-Duffey on 014 592 1135 / wills@vvd.co.za during September and October to have your will revised or drafted free of charge.
Volker Krüger, Van Velden-Duffey Inc. 

Van Velden-Duffey Inc. attorney Volker Krüger

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