Roughly 70% of South Africans do not have a valid will, which can lead to uncertainty and financial difficulties for their loved ones after they pass away. National Wills Week, an annual initiative by the Law Society of South Africa, aims to encourage people to draft or update their wills at no cost. This year's event, which runs from September 14 to 18, 2026, challenges participating legal practitioners to draft 10,000 basic wills in a week.
A will is essential for protecting a child's inheritance, as children under 18 cannot legally manage an inheritance. If a parent dies without a will or makes no provision for minor children, the money may be paid into the Guardian's Fund, administered by the Master of the High Court. The fund held R18.8 billion on behalf of beneficiaries at March 31, 2025. If the money remains unclaimed for 30 years, it is forfeited to the state.
A will can establish a testamentary trust, name the people who will manage it, and set out how the money should be used for a child's education, care, and daily living. However, a basic will drafted free of charge during National Wills Week typically does not include a testamentary trust. It is essential to discuss this with a legal or financial adviser to ensure the child's inheritance is protected.
A will has no authority over a retirement fund, which is a significant asset for most working South Africans. Under section 37C of the Pension Funds Act, a retirement fund death benefit does not form part of the deceased's estate and is not distributed according to a will. The trustees of the fund must identify the member's dependants and nominees and allocate the benefit in a manner they consider equitable.
The Constitutional Court's August 2025 judgment and the Supreme Court of Appeal's May 2026 ruling clarified how "dependency" is interpreted when allocating a retirement fund death benefit. This highlights the importance of having a will and a beneficiary nomination, as they serve different purposes and do not substitute for each other.
Women in South Africa are more likely to find themselves managing the practical consequences of a partner's death, as they live longer than men, with a life expectancy of 71.0 years compared to 65.5 years for men. The South African Women Lawyers Association has emphasized the vulnerability of women and children when a husband dies without a will.
Education and putting knowledge into practice are crucial for making informed decisions about estate planning. Discovery Bank and Worth have partnered to offer courses on positive financial-behavior change, including drafting a valid will. By taking control of their estate planning, individuals can ensure their loved ones are protected and their wishes are respected.
Key points
- A will is essential for protecting a child's inheritance.
- A will has no authority over a retirement fund.
- Women are more likely to manage the practical consequences of a partner's death.
