Start with the people who depend on you
Begin by listing the people who rely on you financially or practically. This includes a spouse or life partner, minor children, adult children with special needs, parents, siblings and anyone else you support on a regular basis. If you run a business, think carefully about co-owners, key staff and family members involved in the business.
It also helps to note whether there are any family dynamics that need care. Blended families, second marriages and children from different households can create confusion later if the wording is not clear. A plain list now can save a great deal of stress when the time comes.
- Full names and ID numbers where available
- Relationship to you
- Whether they are financially dependent
- Any special needs, age related concerns or family arrangements
Make a full asset and liability list
Next, gather a proper view of what you own and what you owe. The will itself does not replace a full estate picture, so your adviser needs to know about bank accounts, investments, property, vehicles, business interests and loans. Include retirement funds too, even though these may not always fall directly under the will.
For property owners, include title deed details and whether there is a bond in place. If you own assets in another province or outside South Africa, say so clearly. Cross-border assets can require separate planning and different paperwork.
- Bank and savings accounts
- Fixed deposits, share portfolios and unit trusts
- Homes, holiday property and vacant land
- Business interests, loan accounts and sureties
- Credit cards, bonds, personal loans and tax amounts owing
Decide who should inherit what and why
Once the list is in front of you, decide how you want things divided. Some families prefer specific gifts, while others want a percentage split. Either can work, but the wording must match your intention. If you want one child to receive a particular property and another to receive cash or investments, that should be set out carefully.
Think about practical balance as well as equal division. A farm, a family home or an interest in a business may not be easy to split in equal parts. In those cases, the plan may need a sale, a buyout or another structure so the estate can settle cleanly.
- Who inherits which assets
- Whether any gifts should be ringfenced for education, housing or care
- How to handle sentimental items like jewellery, art or heirlooms
- Whether any beneficiary needs staged access instead of a lump sum
Choose the right executor and backup support
Your executor will handle the administration of the estate, so this choice matters. The person should be organised, responsive and comfortable dealing with paperwork, financial institutions and the Master of the High Court. If the estate is complex, a professional executor or co-executor may be more practical than a family member acting alone.
Also name a backup. Life changes, and the person you first choose may be unavailable when needed. If you have young children or a vulnerable dependant, consider who should step in to protect their day to day interests while the estate is being wound up.
- Main executor and alternate executor
- Guardian nominations for minor children
- Trusted people who can help with records and contact details
- Any person who should not be asked to act, for a clear reason
Check trust, business and retirement fund details
If you have a trust, company, close corporation or partnership interest, do not leave those details until the end. These structures often need their own rules and documents. A will should work with the trust deed, shareholder agreements and succession arrangements, not against them. If the paperwork is out of date, the estate can become slow and expensive to finalise.
Retirement fund benefits also need proper review. In many cases, the fund trustees decide on distribution, but your beneficiary nominations and family information still matter. Keep those details current so the trustees have a clear picture of your dependants and wishes.
- Trust deed and trustee contact details
- Company ownership and shareholder agreements
- Beneficiary nominations on retirement funds
- Loan accounts, guarantees and sureties linked to the business
Prepare for the family conversation before you sign
The strongest will is often supported by a calm family conversation. You do not have to explain every private decision in detail, but it helps to reduce surprises. A short conversation about your wishes, especially where there are blended families or unequal distributions, can prevent conflict later. The goal is clarity, not drama.
Before signing, check the practical points too: where the signed original will be stored, who knows about it, and whether the executor will be able to find it quickly. A will can only help if it can be located when needed, so keep the storage details current and tell one trusted person where to look.
- Explain the broad shape of your plan where appropriate
- Confirm where the original signed will is kept
- Review the document after major life events like marriage, divorce, birth or death
- Set a reminder to review it every few years
