This is striking because in South Africa, 94% of young people aged 18-24 report losing a close family member before turning 21, showing that personal loss shapes financial behaviour more than age or income.:

Even while so many young people in our country are experiencing death, parents are surprisingly poorly protected:

• 54% said they have funeral cover

• 49% said they have life cover

• 33% said they have drafted their wills

What these parents don’t realise is that without a will, their funeral cover and life cover may not be enough to safeguard children’s futures. Sanlam Trust Senior Legal Adviser, David Thomson, says, “For single parents, a will is especially critical. If you pass away, there’s no one else to pick up the slack. Without a will, the surviving biological parent may take control of everything, or if the child is of age, they inherit it all. In South Africa, we already have so many orphans and young people coming of age who suddenly find themselves making difficult choices that should really be reserved for adults.”

Legacies of Love - Individuals whose parents or grandparents had wills are far more likely to have one themselves, so generational exposure matters and this suggests that will-drafting is a starting point for building legacies of love across generations. However, this requires talking about death within families.

• 84% of South Africans are having the difficult conversations about death, which is encouraging

• 45% have not yet shared the contents of their wills with their loved ones

• 16% don’t speak about death, saying they fear making family members uncomfortable

• Death doulas (who guide a person transitioning to death and their loved ones through the dying process) and psychiatrists don’t feature much with people rather turning to religious figures, elders or financial advisers

“Financial advisers play a pivotal role. Their relationships with clients are not just transactional, they’re relational, and built on deep trust. Advisers are stewards who walk with families across generations, helping them navigate not only financial planning but also the psychology of money and the emotional aspects of decision-making,” Sankie explains.

From Knowing to Doing - Even though fewer of them are drafting wills, South Africans are clear about what would help them to act. Respondents to the survey said:

• They would be far more likely to draft wills if the process was simple, affordable, and guided by people they trust.

• Free or low-cost services would persuade more than half of those surveyed.  

• Many highlighted the need for clear, step-by-step guidance to navigate the process.  

• Trusted financial advice was also cited as a crucial enabler, reinforcing the vital role of financial advisers in turning intention to action.  

By reframing wills as accessible, affordable tools for everyone, not just the wealthy, and by incorporating them into financial conversations and life events, financial advisers can empower more South Africans to take the essential step of drafting their wills. Advisers also play a role in housing wills safely, alongside banks and insurers in the eyes of survey respondents.

“We need to close the gap between knowing and doing. South Africans want to protect their loved ones, but they’re held back by misconceptions and inertia. By making will-drafting accessible and affordable, and by offering good guidance, we can help them move beyond good intentions.

Legacy starts with financial confidence, and with the right support, every South African can own their legacy,” concludes Sanlam Legacy Executive Manager, Amrith Bishoon.