estate duty
A significant advantage of a life annuity is that the policyholder is guaranteed an income for the rest of her life and will therefore never run out of money, regardless of what happens to investment markets or how long she
Living trusts can be used effectively to house growth assets outside of one’s personal estate to reduce tax and estate duty liabilities, a process that is often referred to as estate pegging. For instance, if an estate planner wants to
To determine the dutiable value of your estate, keep in mind that certain assets, such as bequests to your surviving spouse, bequests to PBOs, and the proceeds of life policies payable to your spouse, and business assurance polices, are excluded.
If you have a large portion of your accumulated wealth invested in your business, then it is important to consider what will happen to your business interests in the event of your death. It is likely that you intend for
Probate is a procedure whereby your South African-drafted Will is approved by the foreign legal authority as valid so that your foreign assets can be administered, although keep in mind that obtaining a probate order may delay the winding up
A power of attorney is a formal document by which a person (the principal) authorises another (the agent) to conclude juristic acts on his behalf. By signing a power of attorney, the principal indicates to third parties that he will
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
When contemplating a trust structure, do not lose sight of the fact that running a trust adds a layer of complexity and costs to your financial affairs. When setting up a family trust, keep in mind that you will be
