Intestate Succession – If you die without having a Will

March 29,2019

What happens to the part of my Estate that my children stand to inherit, if i have no Will ?

Answer

If you die without having a Will in place, the Intestate Succession Act No 81 of 1987 comes into force. There are, however, two possible answers based on the scenario. Scenario 1, you are survived by a Spouse and Children; and Scenario 2, you have no Spouse and are survived only by your Children.

Intestate Succession Scenario 1

In this scenario the Spouse and Children inherit according to a specified ratio. Whether you are married in Community of Property (CoP) determines how the amounts are calculated. Additionally, the Spouse, as according to the Matrimonial Property Act, is entitled to the higher value of either the child’s share or R250 000.00.

Example 1: The husband passes away and he and his wife are married in Community of Property and have minor children. He leaves an Estate of R 1 200 000.00.

Example 2: The husband passes away and he and his wife were married Out of Community (No accrual) and they have minor children. He leaves an Estate of R 1 200 000.00.

Intestate Succession Scenario 2

In this Scenario, the deceased has no spouse and has children. The children will therefore inherit per stirpes and by representation. Per stirpes, in laymen terms, means the number of stems from the deceased. If the deceased has three children, there will be three stems. If the deceased had three children, but one passed away who has descendants, the number of stems is still three. The descendants of the deceased child represent (referred to as “by representation” earlier) the deceased child. However, if a child is deceased and has no descendants there will only be two stems used for the distribution calculation.

Example 3

In this Example there are three stems – Son Jack, Daughter Missie’s descendant and Son Alex.

In the event that your children stand to inherit and they are minors, their inheritance will be monetised and paid into the State’s Guardian’s Fund, which falls under the administration of the Master of the High Court. When the children turn 18, the onus is on them to claim their inheritance from the Guardian’s Fund.

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Dear Deenisha and co. Thank you for all your help with the estate of our Father. You have made the process as bearable as possible through all your efforts.

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The client is very happy with the A-class service and advice he received. Thank you.

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Received from a Financial Advisor

    I find that they are a caring company! They really go out of their way to give great service, like sending their consultants across the country to see clients to do their Wills. More important is when our client passed they appoint a caring case manager and will AGAIN go and see the families / beneficiaries to assist with explaining the process, completing forms and gathering info.

    Financial Advisor regarding a Consultant

    Financial Advisor regarding a Consultant

    I have to congratulate you on your service – my client was so impressed with you and the way you explained the product.

    Financial Advisor regarding a Consultant

    Financial Advisor regarding a Consultant

    The client said that the appointment was most pleasant and very informative.

    Financial Advisor regarding a Consultant

    Financial Advisor regarding a Consultant

    The client is very happy with the A-class service and advice he received. Thank you.

    Financial Advisor regarding a Consultant

    Financial Advisor regarding a Consultant

    Thank you so much for your prompt assistance and fantastic service. I appreciate your letter. I will definitely contact you in the future.

    Received from a Client

    Received from a Client

    I learnt so much in my joint call with him, he is a pleasure to work with.

    Financial Advisor regarding a Consultant

    Financial Advisor regarding a Consultant

    Thank you so much for the excellent and quick way that you have handled this matter. I really, really appreciate it.

    Quote from Independent Financial Advisor, Certified Financial Planner® and surviving Husband

    Quote from Independent Financial Advisor, Certified Financial Planner® and surviving Husband

    Keep up the brilliant work and Capital Legacy should be really lucky to have you on board as it is very hard to find good efficient customer service and the turnaround time you did this in was phenomenal. Thank you so much once again.

    Received from a Client

    Received from a Client

    Dear Deenisha and co. Thank you for all your help with the estate of our Father. You have made the process as bearable as possible through all your efforts.

    Message attached to a bouquet of flowers and delivered to our offices from the family who had recently lost a loved one

    Message attached to a bouquet of flowers and delivered to our offices from the family who had recently lost a loved one

    The client is very happy with the A-class service and advice he received. Thank you.

    Financial Advisor regarding a Consultant

    Financial Advisor regarding a Consultant

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