deceased estate
While South Africans enjoy freedom of testation, this freedom has a number of limitations, with Section 37 being one of them. The Act makes it clear that the member’s Will or beneficiary nomination cannot override the provisions of Section 37C,
If you intend bequeathing immoveable property, be careful in your estate planning to ensure that no complications or unintended consequences arise. For instance, if you are married in community of property, any immoveable property will be jointly owned by you
It is important that you give careful thought to those you intending to nominate as trustees as you will effectively be entrusting them with an enormous responsibility – keeping in mind that you will no longer be around when their
If you have a Will, it is likely that the Latin term per stirpes appears in your Will. Per stirpes is a legal stipulation which requires that if one of your beneficiaries dies before you, her share of the inheritance
A life annuity, which is an insurance-based product designed to provide a guaranteed monthly income until the death of the annuitant, is in effect a life policy and, as such, comes to an end on the death of the policyholder.
Through an advance healthcare directive, you can provide your medical proxy with comfort that the decisions they are making are in line with your wishes. For instance, you can include guidelines on when to allow artificial life support, organ and
Unlike retirement funds whose distributions are subject to Section 37C of the Pension Funds Act, member owned living annuities are free to nominate beneficiaries to their investment. In this regard, living annuities differ from guaranteed life annuities which, generally speaking,
Also keep in mind that, as a permanent resident in South Africa, you are taxed on your worldwide estate, and this can have CGT and estate duty implications in the event of your death, especially where your foreign assets are
Once the spouses have made decisions as to what should be included and/or excluded from the accrual, each spouse must declare a commencement value for their estate from which point the growth in their respective estates will be gauged until
Upon the death of the first-dying spouse, the increase in the real value of the respective estates must be determined and accordingly the accrual claim. In its most simplistic form, if the surviving spouse’s share is less than the that
