'There is no way to legally execute a will under lockdown'
The government must declare the drafting and execution of wills an essential service under lockdown regulations, urged the Fiduciary Institute of Southern Africa (FISA) on Monday.
The law compels two witnesses to sign a will in the presence of a testator, making it impossible to execute one at present.
“The deceased person’s bank accounts are frozen after death which can lead to spouses and family members who have lost a loved one to be severely cash-strapped,” said FISA CEO Louis van Vuren.
“The executor of the deceased estate cannot access any funds in bank accounts until appointed by the Master of the High Court and issued with letters of executorship.”
It is a legal requirement to advertise a deceased estate, but these adverts cannot be placed right now, meaning further delays.
The Money Show’s Bruce Whitfield interviewed Van Vuren.
If you’re sitting at home… there’s no way at the moment to legally execute a will… We asked the Department of Justice to get the process in motion… We haven’t had feedback yet.Louis van Vuren, CEO - Fiduciary Institute of Southern Africa
For more detail, listen to the interview in the audio below.
This article first appeared on CapeTalk : 'There is no way to legally execute a will under lockdown'
Source : https://www.123rf.com/photo_57577443_senior-couple-signing-will-documents-elderly-caucasian-man-and-woman-sitting-at-home-and-signing-som.html?term=will&vti=m3uasu3peywarvpkel-1-6
Can employers make it compulsory for employees to get vaccinated against Covid-19? A labour lawyer explains on The Money Show.Read More
It cannot stop its furnaces, so it must keep them going. Bruce Whitfield interviews Mike Arnold, CEO at Consol Glass.Read More
Treasury is mulling raising taxes, says Prof Adrian Saville, Chief Executive of Cannon Asset Managers.Read More
"I have witnessed this device saving lives," says Dr Warren Gregorowski of the proudly South African device.Read More
"Family meeting" – the scariest words in the English language. Bruce Whitfield interviews News24 Political Editor Qaanitah Hunter.Read More
"It’s mandatory for medical schemes to pay for for the Covid-19 vaccine," says Dr Ryan Noach, CEO at Discovery Health.Read More
The President is addressing the nation on measures it's taking to combat the 2nd wave of Covid-19, now washing over South Africa.Read More
Dr Johan Ferreira (Senior Lecturer in Statistics at UP) on the chance of contracting Covid-19 compared to other dangers.Read More
It’s heart-breaking; the results of a study by Finfind and the Department of Small Business Development.Read More