What happens if you do not have a will?
Death is not the easiest topic to speak about and plan for, but it is inevitable. Having a will is one of the most important things you can do for yourself and your family. To avoid imposing further stress to your family at what is already such an emotional time, it is imperative that you have a will prepared. In this article we explore the division of the estate where a person dies intestate i.e without a will.
How the estate is devolved will depend on whom the deceased is survived by.
- If the deceased is survived by a spouse and no descendants, the spouse inherits the estate
- If the deceased is survived by descendants only, the descendants inherit the estate.
- If the deceased is survived by a spouse and descendants, the spouse will inherit
R 250 000.00 or a child’s share, whichever is greater and the descendant’s will inherit the balance of the estate in equal shares. A child’s shares is calculated by dividing the estate between the number of living children and deceased children who have descendants and the spouse in the event that a child’s share is more than R 250 000.00. - If the deceased has no spouse or descendants, but has parents who are both alive, then each parent will inherit a half of the estate.
- If the deceased has no spouse or descendants and is survived by only one parent and the deceased parent left no descendants then the surviving parent will inherit the entire estate.
- If the deceased has no spouse, descendants or parents, but is survived by descendants of his /her parents, then the parent’s descendant’s will inherit the estate.
- If the deceased has no spouse, descendants, parents or descendants of his/her parents, then the nearest blood relative will inherit the estate.
- If the deceased is not survived by any relative, the state will inherit the estate.
It is important to note that illegitimate and adopted children inherit in the same manner as legitimate children.
Winding-up an intestate estate is much lengthier and complex than winding-up a testate estate, where there is a will instructing how the estate should be divided. And unfortunately, it often causes rifts amongst the deceased’s surviving family especially if some are naïve to the rules of intestate succession. Let us help you with preparing your will so that your loved ones are taken care of in the event of your death.