deceased estate
Once you make contact with the executor, be prepared for a preliminary meeting with her as she will be required to prepare a rudimentary list of your spouse’s assets and liabilities for submission to the Master, which must be accompanied
To determine the dutiable value of your estate, keep in mind that certain assets, such as bequests to your surviving spouse, bequests to PBOs, and the proceeds of life policies payable to your spouse, and business assurance polices, are excluded.
Tax planning is an important part of your overall estate plan, and it’s important to factor in the various taxes that your estate may be liable for. Keep in mind that your death will trigger a capital gain meaning that,
As an individual investor, you are free to construct a portfolio that is fully customised to your needs although you will be limited by the provisions of Regulation 28 as mentioned above. This piece of legislation is designed to protect
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, although keep in mind that obtaining a probate order may delay the winding up
A power of attorney is a formal document by which a person (the principal) authorises another (the agent) to conclude juristic acts on his behalf. By signing a power of attorney, the principal indicates to third parties that he will
In theory, your bank accounts should be frozen in the event of your death. However, in practice, there is generally a delay between your death and the appointment of your executor whose job it is to notify your financial institutions
In the absence of an estate plan, problems could arise in the deceased’s estate if there are insufficient liquid assets to honour the deceased’s bequests. In order to pay the bequests, the executor may need to realise assets in the
In theory, your bank accounts should be frozen in the event of your death. However, in practice, there is generally a delay between your death and the appointment of your executor whose job it is to notify your financial institutions
If you have previously drafted a Will, it is vital that you include a revocation clause in your new Will in which you expressly revoke all previously drafted Wills. If you die leaving two or more different Wills, this can
