deceased estate

Retirement checklist: Essential considerations before formal retirement
Ideally, avoid using rules of thumb when determining your post-retirement income needs, and consider your actual situation. Firstly, make a list of those expenses that are likely to fall away when you retire, such as bond and car repayments, long-term
Life insurance in the context of your estate plan
In terms of the Estate Duty Act, the estate of any person consists of all the property and deemed property of the deceased, including property both in and outside of South Africa - except in the case of a non-resident
Your financial affairs: 5 pieces of legislation you need to know about
From 1 March last year, provident funds are subject to the same rules at retirement as pension funds and retirement annuities, except whereas a provident fund member you were age 55 or older at that date and you remain a
How to reduce delays in your estate administration
If you have a foreign Will in place to deal with assets held in a foreign jurisdiction, this can also result in the winding up of your estate. Applying for foreign probate, especially in civil law jurisdictions or where language
Tax liabilities in your deceased estate
For income tax purposes, your worldwide income will be subject to income tax in South Africa. Remember, with effect from 2016, your executor will be required to file a pre-date of death assessment as well as a post-date of death
Preparing to draft your Will: Some important considerations
If there are specific assets in your estate that you intend bequeathing to your minor children, it is important that you provide for this carefully in your Will. Remember, in terms of our law, children under the age of 18
Estate planning mistakes to avoid
Administering your estate: It matters how you are married
Where a couple is married in accordance with the Recognition of Customary Marriages Act, they are automatically considered to be married in community of property. If they wish to be married out of community of property, they are required to
5 effective ways to reduce your estate duty liability
In the event of your death, the funds held in your retirement annuity do not form part of your deceased estate and are not included when calculating your estate duty liability or executor’s fees – meaning that your RA effectively
The many functions of an estate plan
In terms of the Income Tax Act, death is considered a capital gains event and the deceased person is deemed to have disposed of his assets for an amount equal to the market value of the assets at the date
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