Intestate succession is a legal concept that comes into play when a person passes away without leaving a valid will. In South Africa, the Intestate Succession Act 81 of 1987 governs the distribution of assets in such cases, ensuring that the deceased’s estate is distributed in a fair and orderly manner. Let’s explore the rules of intestate succession and how assets are distributed when there is no valid will.
Rules of intestate succession in South Africa
Spouse and descendants
If the deceased is survived by a spouse and descendants (children or grandchildren), the spouse is entitled to a certain portion of the estate, while the remaining assets are divided among the descendants. The spouse’s share varies depending on whether the deceased had children or grandchildren.
Spouse and no descendants
If the deceased is survived by a spouse but has no descendants, the spouse is entitled to the entire estate.
Descendants and no spouse
If the deceased is not survived by a spouse but has descendants, the estate is divided equally among the descendants.
Parents
If the deceased is not survived by a spouse or descendants, the estate is divided equally between the deceased’s parents. If only one parent survives, they inherit the entire estate.
Siblings
If the deceased is not survived by a spouse, descendants, or parents, the estate is divided equally among the deceased’s siblings. If any siblings have predeceased the deceased, their share is divided equally among their descendants.
No surviving relatives
If the deceased is not survived by any close relatives, the estate will be given to the state.
Distribution of assets in intestate succession
When a person dies intestate, the distribution of their assets is determined by the rules of intestate succession outlined above. The estate is administered by the Master of the High Court, who appoints an executor to handle the process.
The executor is responsible for identifying and gathering the deceased’s assets, paying any outstanding debts and taxes, and distributing the remaining assets to the heirs according to the rules of intestate succession.
Assets are distributed in accordance with the legal hierarchy of beneficiaries outlined in the intestate succession laws. The administrator must follow this hierarchy to ensure that assets are distributed correctly and fairly among the deceased’s surviving relatives.
Importance of estate planning
Intestate succession highlights the importance of estate planning. Without a valid will in place, the distribution of assets may not align with the deceased’s wishes or the needs of their loved ones. By drafting a will, individuals can specify how they want their assets to be distributed and ensure that their wishes are carried out after their death.
Estate planning also allows individuals to appoint executors and guardians for their minor children, make provisions for the care of dependents, and minimise estate taxes and administrative costs.
How we can help you
Contact us to assist you with estate planning and drafting a valid and binding will, so you can have peace of mind knowing that your affairs are in order and that your estate is distributed according to your wishes.