Experts warn that failing to draft a Will can leave families facing months of uncertainty and significant financial strain after a loved one's death.
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Up to 70% of South Africans die without a valid Will, leaving their families vulnerable to legal delays, inheritance disputes and financial uncertainty at an already difficult time.
According to Discovery Life, many South Africans still incorrectly believe that Wills are only necessary for wealthy individuals or older people, despite the fact that even modest assets can create complications if a person's wishes are not formally documented.
"Many South Africans still associate Wills with older or wealthy individuals, but the reality is very different today," said Gareth Friedlander, Deputy Chief Executive of Discovery Life.
"If you own any kind of assets, like a paid off second hand car, a bank savings account, unit trusts, or crypto assets, having a valid Will in place ensures your wishes are carried out as you intended."
Friedlander said the issue has become increasingly important as family structures and financial arrangements evolve.
"Modern families are often more financially connected and structurally complex than before," he said.
"Whether it is unmarried partners, blended families, parents supporting children, or individuals building businesses and assets earlier in life, the consequences of not having a valid Will can be significant."
Without a valid Will, a deceased person's estate is distributed according to the Intestate Succession Act rather than their personal wishes. This can create lengthy delays and disputes, particularly where minor children, second marriages, unmarried partners or dependants are involved.
In many instances, families may struggle to access funds and assets, inheritance decisions can be challenged, property transfers may be delayed and children's inheritances may be administered through the government's Guardian Fund.
"A Will is more than a legal document. It is a critical part of protecting long term financial security for the people you leave behind," Friedlander said.
Discovery Life has enhanced its estate planning services through Discovery Wills and Trust Services, which allows clients to draft, update and securely store their Wills while receiving professional legal guidance.
Harry Joffe, Head of Legal Services at Discovery Life, said misconceptions about estate planning continue to prevent many South Africans from taking action.
"We wanted to make the process simpler, more accessible and less intimidating for South Africans," said Joffe.
"We have made it easy for clients to access professional specialists who guide them through the estate planning journey, making it simpler and more seamless."
Clients can access consultations through the Discovery Bank app, the Discovery website or their financial adviser. Once completed, their original signed Will is collected and securely stored by Discovery while digital copies remain accessible through their online profiles.
Joffe cautioned that despite the growing popularity of artificial intelligence tools and downloadable templates, Wills remain legal documents that must comply with strict requirements under the Wills Act.
"Something as simple as incorrect witnessing, amendments after signing or failing to securely store the original document can create significant complications later on," he said.
"For example, signing as a witness will disqualify you from receiving a benefit from the Will, including being appointed as executor, while copies of Wills are not valid."
Estate planning extends beyond drafting a Will. Discovery has also expanded its Estate Preserver offering to help families cover the costs associated with winding up an estate.
Joffe said many South Africans underestimate the financial burden that follows a death.
"Executor fees can amount to up to 3.5% of the gross estate value plus VAT. For example, on an estate worth R3 million, executor fees alone could be R120,750, before additional taxes, legal and administrative costs on the estate are considered," he explained.
The Estate Preserver covers expenses such as executor fees, property conveyancing fees and testamentary trustee fees.
"This gives your loved ones the peace of mind that, in addition to the estate being managed by experts, the associated costs of these services will also be covered, and the beneficiaries will not lose out with fees being paid out of the estate," Joffe said.
The enhanced product also includes trustee fee coverage for multiple trusts over periods of up to 20 years, providing long term protection for children and dependants.
"This enhanced offering reflects South Africa's unique family structures, including single parents and intergenerational households. Clients can now have a separate trust for each child, an aged parent, or different spouses, ensuring that their loved ones' futures are taken care of, no matter how their family is made up," he said.
Friedlander believes the biggest challenge remains encouraging South Africans to act before it is too late.
"Too many South Africans put off drafting a Will because the process feels complex or seems expensive. We've changed that. With Discovery, it's easy to draft a Will, with expert support every step of the way. We're making it simple for clients to take control of their legacy and protect the people who matter most," he said.
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