After the massive ransomware attack that took place on the 6^th of September 2021, the Department of Justice and Constitutional Development’s systems have been restored after having been off-line for a prolonged period of time. Unfortunately, this not only exacerbated the backlog already experienced before this malicious attack but also increased it substantially. This had a ripple effect on the whole sector dependent on their services. Processes are taking longer than usual. Thank you for your understanding and patience as this affects our speed and service delivery directly and profoundly. Please continue to convey this message to your clients who are directly affected by this event.
 
Ensure that Wills are signed and returned for safekeeping
A Will is a useful tool to open a door to an appointment with a client, but a Will also forms an integral part of their estate planning. Statistics in the main article in this newsletter indicate that even under the current circumstances, 54% of South Africans still do not have a Will.
 
Original signed Wills must be returned for safekeeping as soon as possible after they have been signed. Unfortunately, it sometimes happens that when a person passes away that the original signed Will was never returned for safekeeping and no other original signed Will can be located. This complicates the administration process, especially if there is no other previous signed Will somewhere else.
 
Legatus Trust assists you in providing information regarding your outstanding Wills, but it remains your responsibility as the broker to follow up on outstanding Wills, to ensure that a signed Will is received and to ensure that your clients’ last Will & Testament had been returned to Legatus Trust for safekeeping. Should a Will not be taken up by a client, please inform Legatus Trust to cancel such a Will to eliminate unnecessary follow-up. We rely on your cooperation in this matter.
 
Estate forms
Please note that all the estate documents required for the reporting of a deceased estate are also available on our website, www.legatus.co.za, under the ‘Deceased estates’ section, from where it can be downloaded.
 

Interesting court case regarding “Parent” in an intestate estate

- Read more about this in next year’s first edition
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A NOTICEABLE INCREASE IN THE DEMAND FOR WILLS
 
A Will is one of the most important documents that a person will sign in their lifetime. With the arrival of the pandemic, and accompanying lockdowns for more than 18 months, people have become more aware of their mortality. As the reports of deaths increased, so did the demand for Wills.
 
Sanlam Trust recently discussed the results of an interesting study by Band Atlas that was released in August 2021. According to this study, 44% of economically active South Africans have either amended or created Wills in the past 18 months. Sanlam Trust confirms this finding as they are experiencing an increased demand for Wills among demographics that, traditionally, have not been interested in estate planning.
 
The study further found that 84% of people have become more aware of their mortality. The Head of Wills Operations at Sanlam Trust, Moremadi Mabule, confirmed that the current pandemic has contributed to people thinking about death more.
 
Another result of the study found that motives for having estate planning differ according to age group, i.e.:

That being said, even with the above findings, 54% of South Africans still do not have a Will. The main reasons given by 90% of the respondents who said that they did not have a Will were:

Not having enough assets is a myth and misconceptions about Wills. Even if a person thinks that they do not have enough assets, it can still be a heavy burden on those left behind if an estate must be administered on an intestate basis. The reality when someone passes away is that somebody must still handle whatever legacy is left behind. Even if people feel that they do not have any assets, this is hardly ever the case.  People very seldom have nothing. It is thus never a good idea to not have a Will in place. And putting off the drafting of a Will can prove to be quite detrimental when death comes knocking at the door.
 
According to Nabaweiya Abrahams, Quality and Control Manager in Sanlam’s Wills Department, people also have the perception that drafting a Will is too complicated or too expensive, or that their “family will know what to do”.  Let us set the record straight:

Even with the benefits of this study and its findings, it seems as if South Africans still do not realise how important it is to have a valid Will, and the dire consequences caused for loved ones should a person pass away without a Will in place. This could, for instance, force a surviving spouse to sell the family home to pay out the heirs, or a severe delay before an estate can pay out its beneficiaries, potentially causing great financial distress for the family.
 
Having an outdated Will could have the same effect. Often a person marries but does not remember to update their Will. This could leave the spouse with nothing, while the parents inherit the full estate of the deceased. As circumstances change, i.e. marriage, divorce, or new additions to the family, a Will should keep track of the changes, and be updated as and when necessary.
 
The Band Atlas study also indicated that over the past 18 months, 35% of people updated their Wills, while 9% drafted their Will for the first time. Nearly half of the people drafting a Will for the first time came from lower-income groups. This suggests that South Africans across the economic spectrum are starting to put more consideration into their financial legacy.
 
According to Mabule, there is a “psychological shift with different demographics starting to invest in estate planning, which is an indication that it is no longer seen as ‘reserved’ for the rich”. Abrahams concurred by saying that her department saw “a flood” of requests for Wills from people in the lower-income groups, as well as from the youth.
 
These statistics are quite eye-opening. The fact is that you should never wait for a catastrophic event before putting thought into your legacy; rather act responsibly and write a valid, air-tight Will. This would be a comforting legacy to leave behind to ensure an as smooth as possible administration process.
 
Source: https://www.moonstone.co.za/increased-public-interest-in-wills/
 
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As we approach the end of yet another year, we take a moment to reflect on the challenging and difficult path behind us. But only for a moment as one cannot dwell on the past, but rather learn from it. We are thankful to be able to celebrate the end of another year and now look ahead to what is laying ahead.
 
Thank you for supporting Legatus Trust and for marketing our services during the past year. Even though there must have been trying times during the year, it is comforting to know that those pass also, and most things have a way of working out anyway.
 
We strive to always deliver an excellent service, despite the hurdles and difficulties experienced from time to time. This is all part of life’s journey, the good, the bad and the ugly. We would like to continue on this journey with you in the New Year. A path filled with surprises, known and unknowns, challenges and victories.
 
May you enjoy a peaceful festive season with your loved ones. Family legacy is so much more than just about what we have created, but also about the story that we are part of and share. A story not just about ourselves, but a story which is part of a bigger picture. “No man is an island, entire of itself.” Our challenge is to see this larger picture, to recognise how others have shaped us and how we have impacted the lives of others. There have always been occasions, happenings, and people who have intersected with us on our life’s journey. We influence people every day by what we say and do, by what we write, create and share. And all that influence adds up.
 
May we use the power of our lives for the lasting good of those we touch, from our own loved ones, our colleagues, our communities and even our online connections.