Wills and Estate Planning
If you’ve received a donation or a gift from someone, note that there are no tax consequences for you as the donee. However, as SARS requires you to declare all taxable and non-taxable income, you will need to declare it
Probate is a procedure whereby your South African-drafted Will is approved by the foreign legal authority as valid so that your foreign assets can be administered in that jurisdiction. It involves obtaining the necessary court authority in the foreign country
A revocation clause is a paragraph inserted in your Will which revokes all other Wills that you have ever drafted and declares the current Will to be your Last Will and Testament. Although a testator is not legally required to
There are a number of circumstances that can disqualify a potential heir. Firstly, any person who writes a Will, or any part thereof, on behalf of the testator can be disqualified from inheriting, as is the writer’s spouse. Similarly, the
A testator can make a special bequest in his Will if he wants to leave a particular asset to a beneficiary (legatee), bearing in mind that the beneficiary does not need to be related to him. After your executor has
Even once their adult children have their own homes and families, many retirees choose to hold on to the family home for sentimental reasons rather than downscaling to a more manageable-sized property. If the longer-term plan is to ultimately downscale
Traditional disability assurance is based on whether or not you are physically able to work. Occupational Disability assurance is generally divided into (a) own occupation, (b) own or similar occupation or (c) any occupation. These definitions will determine whether you
No guardian can sell or mortgage any immoveable property belonging to the minor unless permission has been granted by the High Court, keeping in mind that the court will also act in the best interests of the child.
In terms of Section 37C, if the deceased has no financial dependants and his estate is solvent, the trustees must pay the nominees in the proportions in which they were nominated but only after a period of up to 12
