A will is a critical document that ensures your assets are distributed according to your wishes after your passing. While many people draft individual wills, some choose a joint will, especially when they want to outline shared instructions for their estate. In South Africa, joint wills are a practical option for couples, families, or close relations, but there are some nuances to understand. This blog explains what a joint will is, its legal implications, and whether marriage is a prerequisite.
A joint will is a single document that two or more individuals create to outline how they wish their combined estates to be distributed upon their passing. The will is typically used by couples who wish to ensure that their estate goes to the same beneficiaries. Under South African law, a joint will allows the testators to pool their intentions and simplify estate planning in cases where they share assets.
Binding Nature: Joint wills are binding on both parties. After one person passes, the surviving testator is generally not allowed to change the terms of the will unless explicitly stated in the will.
Mutual Agreement: Both parties agree on the terms, such as which assets go to whom.
Deceased Estates Act Compliance: Like any will, joint wills must comply with the requirements of the Wills Act 7 of 1953, including the presence of two witnesses and the testators’ signatures.
Interestingly, South African law does not mandate that individuals be married to enter into a joint will. Any two people with mutual assets or shared intentions can create a joint will. This means that partners, friends, or even siblings may draft a joint will if they wish to distribute their estates according to common goals.
Simplified Estate Planning: A joint will reduces complexity by combining the estates of both testators into a single document.
Ease of Administration: When both testators have aligned intentions for asset distribution, a joint will can streamline the estate administration process.
Legacy and Family Intentions: Joint wills often allow couples and close relations to control their legacy more effectively.
Limited Flexibility: Once one party passes away, the surviving testator may have little or no authority to change the terms of the will.
Binding Nature Posthumously: Unlike individual wills, joint wills often remain irrevocable after the first testator’s death, meaning the surviving testator must adhere to the agreed-upon terms.
A joint will can be a powerful tool for estate planning, especially for individuals who want to secure their assets collectively and pass them on to beneficiaries in a specific manner. South African law allows flexibility in who can create a joint will, meaning marriage is not a requirement. However, it’s essential to weigh the pros and cons and consider the irrevocability and limitations of a joint will. Consulting a legal expert can help tailor the document to meet your needs, ensuring that it aligns with both the Wills Act and the Deceased Estates Act.
