If you die without leaving a valid will, your estate will devolve according to the Intestate Succession Act. This means that your estate will be divided among your surviving blood relatives (as well as adopted children). If there aren’t any, your estate will go to the State according to a certain formula.
Here’s how it works if you pass away without a valid will:
- I only have a spouse: Your spouse will inherit the intestate estate.
- I have a spouse and children: Your intestate estate will be divided between your spouse and children (there are rules that will apply to how it is divided).
- I have no spouse, but I have children: Your children will inherit your intestate estate in equal shares.
- I have no spouse, no children, but both my parents are still alive: Your parents will inherit your intestate estate in equal shares.
- I have no spouse, no children, and only one of my parents is still alive: If your deceased parent has descendants (for example, your brother or sister), then your surviving parent will inherit half of your intestate estate and the descendants of the deceased parent the other half. If your deceased parent has no descendants, then your surviving parent will inherit your whole intestate estate.
- I have no spouse, no children, and no parents, but my parents’ descendants are still alive: Your descendants (e.g. your brother/sister) will inherit your whole intestate estate.
- I have no spouse, no children, no parents or descendants: Your nearest blood relation will inherit your entire intestate estate. If you have no blood relations, your intestate estate will go to the State.
Having a will is important because it explains exactly how your assets should be distributed and who will take care of your children if you die before they become legal adults. It can save your loved ones money, time and stress trying to sort out all the admin that comes with a deceased's estate. Scorpion provides their members with a basic will free of charge so they can be sure that their estate is protected. To find out more visit www.scorpion.biz.
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* This is only a broad outline and should not be relied on solely. The law of intestate succession is a lot more complicated and there are many influencing factors that can change the above.