Here are 5 myths South Africans still believe about wills – but shouldn’t

Understanding the facts about wills is an important part of effective estate planning Many South Africans still put off writing or updating their wills, and misconceptions about what a will does, who needs one, and how assets are distributed after death can have unintended consequences for families. Understanding the facts is an important part of effective estate planning, from assuming a will determines who receives your retirement fund to believing that divorce automatically removes an ex-spouse from your will. As the country observes national wills week from 14 to 18 September 2026, Solani Sibanda, senior financial planner at NMG Benefits, unpacks five common myths South Africans still believe about wills. Here are five myths worth putting to rest: Myth 1: My will determines who gets my retirement fund Fact: Retirement fund benefits do not transfer according to your will. Sibanda says that when someone dies, the trustees of their retirement fund are legally required, under Section 37C of the Pension Funds Act 24 of 1956, to investigate their dependants and nominees and decide how to distribute the benefit. This means that the wishes expressed in a will do not determine who receives the retirement fund benefit. “The important distinction is that the same rules do not govern your retirement fund death benefit and your estate,” she adds. “You can have a carefully drafted will and still have a very different outcome for your retirement benefit.” This is particularly important for people with children from previous relationships, current and ex-spouses, and other financial dependants. Myth: Divorce automatically removes my ex from my will Fact: Major relationship changes should always trigger a review of your estate planning. He adds getting married, separated or divorced can significantly change who you want to benefit from your estate. Yet the will you signed before the relationship changed does not simply become irrelevant. “There are specific legal provisions relating to divorce and inheritance, but relying on these rather than updating your will can leave your estate open to unnecessary uncertainty.” Myth: Once I have written a will, I am covered for life Fact: A will reflects the circumstances that existed when it was drafted. These circumstances can change considerably. Sibanda says a will written 20 years ago may predate a marriage, divorce, the birth or adoption of children, the death of a beneficiary, the acquisition of assets, or significant changes in your finances. “There is no universal review date that suits everyone, but significant life events and substantial changes in financial or family circumstances are clear reasons to revisit it.” Myth: Only rich people need a will Fact: You do not need a large estate to benefit from having a valid will. Even if your assets are relatively modest, there may be important decisions to make about who should inherit them and how your affairs should be handled. He says for many families, the value of having clear instructions about the care of minor children cannot be overemphasised. “A will can also address certain personal wishes, although not every instruction can legally be dealt with through a will.” Myth: If I have written down what I want, I have a valid will Fact: Writing down your wishes does not automatically make a will legally valid. Sibanda says formal legal requirements govern how a will must be prepared and executed. A document that has not been correctly drafted, signed, and witnessed can create complications for those left behind, potentially defeating the purpose of making the will in the first place. “It is also important that your will can be found when it is needed. There is little value in having a valid will if nobody knows where it is,” says Sibanda. “It can be kept safely with a trusted third party, such as a financial adviser, so that the right people know how to access it when necessary.” Ultimately, a will should be treated as a living part of your financial plan, not a document to be filed away and forgotten. Working with a professional financial planner can help ensure it stays aligned with your circumstances, while also confirming it is properly drafted and valid.