donations
Even once their adult children have their own homes and families, many retirees choose to hold on to the family home for sentimental reasons rather than downscaling to a more manageable-sized property. If the longer-term plan is to ultimately downscale
Donations can be used effectively in conjunction with an inter vivos trust to reduce the value of your estate during your lifetime. By reducing the value of your estate, you will effectively reduce your estate duty liability while at the
Your tax commitments follow you to the grave and it is important to bear in mind that Sars has first claim to what is rightfully owing to them.
When distributing your assets, the executor will first use your assets to pay the costs of administering your estate and to pay your creditors. Thereafter, your legatees will receive any legacies due to them in terms of any special bequests
Tax legislation permits you to invest up to 10% of your taxable income towards charity on a tax-deductible basis, although it is important to know that this tax deduction is not automatic.
Estate planning is often perceived as planning for your death. However, much of estate planning involves events that occur during your lifetime and includes financial planning, selecting an appropriate marriage regime, tax and business planning, offshore investing and retirement planning.
