FREQUENTLY ASKED QUESTIONS
We would like to welcome you to the Van der Walt & Hugo family. Communication is one of our highest priorities.
WILLS
Peace of mind, written with certainty
1. Question: What happens if I die without a will?
Answer:
If you die without a will, you are said to have died intestate. This means your estate
will be distributed according to the Intestate Succession Act. The law decides who
inherits your property - not you.
Typically:
ï‚· If you’re married, your spouse and children will share your estate.
ï‚· If you have no children, your spouse may inherit everything.
ï‚· If you’re unmarried, your estate will go to your closest relatives (parents,
siblings, or other blood relatives).
ï‚· If you have no living relatives, your estate may eventually go to the state.
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2. Question: What makes a will valid in South Africa?
Answer:
For a will to be legally valid in South Africa, it must meet the requirements of the
Wills Act 7 of 1953. These include:
1. The person making the will (the testator) must be at least 16 years old and
mentally competent.
2. The will must be in writing — typed or handwritten.
3. The testator must sign every page and at the end of the will.
4. The signing must take place in the presence of two competent witnesses,
who also sign each page and the end of the will in the presence of the
testator. – a competent witness may be anyone older than 14 with the
capacity to give evidence in a court of law.
5. Witnesses may not inherit under the will.
Failure to meet these requirements could make the will invalid, causing your estate
to be distributed according to intestate succession laws instead of your wishes.
TRANSFERS
Seamless property transfers, handled with precision and peace of mind
1. What is the difference between transfer duty and transfer costs.
- Transfer costs is a once-off fee paid by the Purchaser to the Conveyancing
Attorneys to register the property in their name. The transfer costs vary as
it is based on the purchase price. The grand total of the transfer costs will
include costs such as Attorney registration fee, transfer duty payable to
SARS, Deeds Office fee, etc.
- Transfer duty is Tax paid to SARS. Transfer duty will only be applicable on
properties with a purchase price of over R1.2million.
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2. When will the property I purchased actually belong to me?
- On date of registration of transfer the property is registered in the name of
the Purchaser and therefore, from date of registration the property will
belong to the purchaser.
ANTENUPTIAL CONTRACT
Smart planning for a stronger partnership
1. When must the antenuptial contract be signed?
Before date of marriage.
If it is signed after date of marriage:
ï‚· the marriage will be in community of property in terms of South African
law, resulting in a joint estate in which both spouses are jointly liable to
creditors.
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2.Can we change our antenuptial contract later?
Yes, but it is not a simple amendment.
In terms of South African marriage law, an antenuptial contract may only be
amended or replaced after the marriage if:
ï‚· Both spouses consent, and
ï‚· An application is made to the High Court in terms of section 21 of
the Matrimonial Property Act 88 of 1984
The court will grant the application only if it is satisfied that:
ï‚· There is good cause for the proposed change, and
ï‚· The amendment will not prejudice the rights of existing creditors
An application in terms of section 21 can be costly and time-consuming, which is
why it is important to select the appropriate marital regime before the marriage is
concluded.
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3. What is the difference between “with accrual” and “without accrual”?
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ï‚· With accrual:
Each spouse keeps a separate estate during the marriage, but the growth of both
estates during the marriage is shared if the marriage ends (by divorce or death).
ï‚· Without accrual:
Each spouse keeps their estate completely separate — no sharing at all.
Accrual is often seen as the “fair middle ground.”
BONDS
Efficient bond registrations that secure your property with confidence
BONDS
1. Can I make extra payments towards my bond:
- Yes, and this carries long-term benefits by systematically reducing the
interest and capital over your bond term.
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2. Do I need life cover:
- The bank will advise you whether life cover is applicable and required by
the bond registration attorney. The general rule however is no, but it is a
good idea to get bond protection cover so that your liabilities toward the
bank are covered if an unforeseen event occurs.
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