Johannesburg – When a person passes on without a will, they forfeit the privilege of deciding what should happen to their estate and the estate gets allocated in terms of pre-determined legislated guidelines, known as intestate succession.
In other words, that person has no say in how the estate should be apportioned.
“Having a Will in place should from part of broader legacy and financial planning, with specific focus on the estate planning piece. Evidently, this is a subject most people avoid because it involves death. However, not having a will can be traumatic on the family - in some instances quite expensive," explains Vijay Morarjee, CEO of FNB Fiduciary.