The bad news is that it can come with its drawbacks that you need to be aware of to avoid having it contested in court, it becoming lost or starting a feud amongst your loved ones. Here is what you need to know.

What is the Wills Act of 1953?

Creating your own will is not as simple as most people make it out to be. While a few searches online for a template and writing down your wishes is possible, there are a few more steps you need to take to make it a legally recognised will. For anyone who is planning on creating a last will and testament, it is crucial to follow the Wills Act 7 of 1953 which requires that you are:

Competent to draft a will. This means you need to be 16 years or older and understand what you are doing. It will not be legalised if the person who has drafted the will has a mental incapacity to understand what a will is and how it affects them.

You cannot be a beneficiary. If you are drafting the will by hand or electronically, you cannot list yourself as a beneficiary. Even if you have someone drafting the will on your behalf, they cannot list themselves as a beneficiary.

All documents need to be signed. This is to make the documents valid. The will needs to be signed by the testator (ie person who is creating the will), and two other witnesses who are present at the time.  In a situation where a testator is disabled or has suffered a stroke, they can sign using their fingerprint. The two witnesses need to be at least 14 years or older to sign.

Date your will accordingly. Although this is not a legally binding requirement, it can make it easier to keep track of if you have more than one will in place.

The pros of drafting your own will

It's quick. Going the D.I.Y route of creating your own will means that you can have it created online in a safe and easy way or use a template that is available online in a few clicks which you can store in a safe place. 

It's inexpensive. The costs of drafting your own will differ from R0 - R57.50 or more depending on where you store it for safekeeping.  

It gives you control. You will be able to cut out the middleman by being in control of what is written, how often you update it and as well as have easy access to it. 

The cons of drafting your own will

It's not secure. Making sure that your will is kept up to date and is placed in a secure place is something that you will have to consider. Furthermore, you will need to find a trustworthy executor who will be able to assist you in carrying out your last wishes. 

May not be valid. There are things that can cause your will to be invalid, even if you follow the Wills Act 7 of 1953. Not being specific in your will when it comes to your assets or last wishes can cause it to be invalid or even challenged. Furthermore, listing conditions that are deemed as illegal can cause your will to be invalid.

Lack of professional advice. Not having a professional who can help walk you through drafting your will to make sure that it is airtight and also help your loved ones avoid the stress of having it being contested can be a major drawback. 

Understanding the pros and cons can help you weigh your options when it comes to whether you want to draft your own will or not. You can also draft a will that will be legally recognised with MiWayLife here. However, we advise that you speak to a professional to make sure that everything is in order for peace of mind.