deceased estate
As a function of ageing, death becomes more pervasive as retirees get older. Experiencing friends and acquaintances falling ill and dying is depressing, morbid and sad – and this can lead to what is referred to as death anxiety. The
If there is a Will, the Executor will use this document to determine how the assets will be distributed. In the absence of a Will, the assets will be distributed in accordance with the Intestate Succession Act.
The real benefit of a living trust is that because trusts don’t die, assets housed in a trust can move from generation to generation without being subject to estate administration and the associated costs thereof.
Life insurance can play an important role in creating liquidity in your deceased estate and ensuring that the forced sale of assets after your death is avoided – keeping in mind that estate solvency is different from estate liquidity. While
Endowments are complex investment policies that generally cater for investors with a marginal tax rate of 30% or more and can also make useful estate planning tools. As the policyholder, you can elect who the life assured and nominate beneficiaries
If you are self-employed, you may want to consider implementing mechanisms to ensure that your personal assets are protected from business creditors; whereas if you have interests in a business, business assurance mechanisms can be employed to ensure that these
In the absence of a Will, if there is a surviving parent in the event of your passing, that person will be the legal guardian of your minor children. But, if both parents were to die simultaneously or in close
In terms of the Estate Duty Act, the proceeds of all domestic policies paid to a deceased estate will be considered deemed property and therefore subject to estate duty. However, legislation provides several exceptions to this general rule, including the
Besides the financial and legal acumen required by your executor, bear in mind that the role necessitates strong secretarial and administrative skills from start to finish, and it’s important to make sure that the person you nominate has not only
