Although you can create a legal last will and testament on your own, it is important to understand the pros and cons that come with it. Furthermore, keep these five things in mind to make sure that whatever will you draft - whether paid or free - it’s legal.

Be competent to draft a will

All wills need to comply with the Wills Act 7 of 1953. This means that anyone who plans on making a will, either paid or free, needs to be 16 years or older and understand what they 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 will need witnesses to sign the document

Did you know that you can create a legal will online? But before you do so with a financial company, a lawyer or a bank it is important to understand that you will need witnesses to sign the document to make it legal. The will needs to be signed by the testator (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.

You cannot list yourself as a beneficiary

While you may have last wishes or assets that you would like to pass on to family, friends or charity, it is important to note that 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.

It needs to be kept up to date

The latest document is what will be used as your legal will. 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. Having a will drafted for you can make sure that the admin of keeping your will safe and up to date is taken care of so that you do not have to worry about it. However, make sure to regularly check that everything is in order and the beneficiaries you have listed are kept updated.

You will need to appoint an executor

This one is not legally binding, but it can make the process less frustrating for your loved ones. An executor will play a vital role when it comes to making sure that your will is followed to the ‘T’. This is a person that you choose to keep your will on your behalf. For example, you can get your will legally drafted at MiWayLife and kept for you. When you pass on MiWayLife will carry out the instructions that you have placed in your will. An executor will ensure that any debt you might have is handled and they will also invest on your behalf if you have stated so in your will.