September’s Will’s Week draws attention to a staggering reality facing South African families: fewer than 15% of people have a valid will when they die, leaving billions of rands trapped in legal limbo and families facing often-devastating financial consequences.
“Having an up-to-date will is a cornerstone of comprehensive wealth protection that every South African should prioritise,” said Frikkie van Loggerenberg, Chief Executive Officer of IFSA asset managers. “Too often we witness firsthand the financial devastation that befalls families when proper estate planning is overlooked. What should be a time of grieving and healing instead becomes a nightmare of legal complications, family disputes, and frozen assets.”
The absence of a will triggers the Intestate Succession Act, which may distribute assets in ways that contradict the deceased’s wishes. Life partners who are not legally married receive nothing, spouses may be forced to sell family assets to pay children’s shares, and minor children’s inheritances can become locked in the state-managed Guardian’s Fund until they reach majority age.
Every year, billions of rands remain inaccessible while estates wind through the legal system, creating delays that can stretch for years. Even modest estates can generate significant complications without proper documentation, and the cost of professional will drafting pales in comparison to the legal fees and family conflict that typically arise from intestate estates. IFSA advocates for estate planning to be integrated into regular financial reviews, treating will maintenance as a regular process rather than a one-off exercise.
“The complexity many people associate with will drafting is largely misplaced,” van Loggerenberg explains. “Modern estate planning can be straightforward and cost-effective, yet the psychological barriers remain formidable. Fear of confronting mortality, family dynamics, and simple procrastination combine to create a perfect storm of avoidance.”
The reasons South Africans avoid estate planning are varied but predictable. Cultural superstitions around discussing death, the perceived complexity of legal processes, and the mistaken belief that modest estates require no planning all contribute to the problem. Many assume their families will “sort things out naturally,” underestimating how financial stress can strain even the strongest relationships.
IFSA recommends that will creation be discussed during annual financial planning reviews, ensuring that estate planning evolves alongside changing family circumstances, asset accumulation, and life events. Professional guidance can navigate complex family structures, business interests, and tax implications while ensuring all documentation meets legal requirements.
Will’s Week serves as an annual reminder that estate planning cannot be postponed indefinitely. For South African families already struggling with economic uncertainty, the additional burden of intestate succession represents an entirely preventable crisis that could potentially undermine decades of careful wealth building.
“Estate planning remains one of the most overlooked aspects of comprehensive financial management in South Africa,” van Loggerenberg concludes. “We encourage every South African to take this simple but crucial step. The peace of mind that comes from knowing your wealth will transfer according to your wishes, and that your loved ones will be spared unnecessary hardship, is invaluable.”
