deceased estate
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
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
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
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
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
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
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
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
