Estate planning
Living annuities are highly effective succession planning tools because you are free to nominate any beneficiaries you wish. On death, the proceeds are paid directly to those beneficiaries, usually within a short time, once the administrator has been notified and
Despite the financial safety net that inheritance provides, many heirs are determined to carve out success on their own terms, often emphasising that their careers, businesses, or philanthropic pursuits should stand independently of the family legacy. For these individuals, inherited
The first risk of over-providing is that of entitlement. When children never experience financial difficulty or financial limitations, they may grow to view privilege as a right, rather than a gift.
For those who created wealth—whether through business, property, professional careers, or disciplined saving—the challenge often lies in how best to transfer their legacy. In our experience, the focus is too often on the mechanics of estate planning – which is
You may appoint co-executors who share the duties—and the executor’s fee. However, having multiple executors can create administrative bottlenecks in that any disagreements amongst the executors must be referred to the Master for resolution.
If a parent dies intestate and leaves behind minor children, guardianship is usually awarded to the surviving parent. However, if both parents die simultaneously or within a short period, the Master of the High Court will appoint a legal guardian,
Assets already transferred into a trust do not form part of your estate and therefore cannot be bequeathed in your will. Remember, once an asset is placed in trust, it is managed by the appointed trustees in accordance with the
A significant advantage of a living trust is that it allows you to peg the value of assets in your personal estate while enabling the growth on those assets to take place in the trust. This can reduce your estate
Professional advice is invaluable in ensuring compliance with South African law, notably around clauses such as the appointment of an executor, guardian nominations, and the establishment of testamentary trusts.
Overly complex Wills, especially in the case of blended families and previous spouses, can result in delays in the administration process where disputes arise due to unclear wording or clauses that can be interpreted in different ways. Any legal challenge
