It might be easy to argue that a will is an unnecessary document, especially if it won’t make any difference to the distribution of the assets in the estate.

But beware.

The argument is flawed for two reasons. Dying without a will, will result in a delay in the administration of the estate. The Master of the High Court will have to appoint an executor on behalf of the deceased and this can delay the process considerably. He or she also has to consult family members before an appointment is made. If they are not satisfied with the appointment, it could result in a lengthy and costly court battle, says Louis van Vuren, CEO of the Fiduciary Institute of Southern Africa (Fisa).

Read the full article on Moneyweb.co.za.

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