'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'
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