estate planning
In the absence of an estate plan, problems could arise in the deceased’s estate if there are insufficient liquid assets to honour the deceased’s bequests. In order to pay the bequests, the executor may need to realise assets in the
While the proceeds of domestic life insurance policies are deemed property in a deceased estate, buy and sell cover is a notable exception. This insurance is taken out by business owners on each other’s lives so that, if one shareholder
Where bonded fixed property is bequeathed to your children, they may be required to register a bond over the property in their own name and, if they do not qualify for a bond, they may be forced to sell the
Bewind trusts are created as trading vehicles and provide trustees with limited liability as well as certain tax benefits for beneficiaries. In a bewind trust, the trust founder sets up the trust in such a way that the assets and
If you have been awarded capital as part of your divorce settlement, you’ll likely want to take steps to protect and grow this capital. If you’re awarded a portion of your spouse’s pension interest, you have the option to withdraw
Our law recognises that the mental capacity of the patient may differ from day to day depending on the diagnosis and that the administrator’s function should be proportionate to the patient’s mental health status, keeping in mind that the patient’s
Unlike a child’s natural guardian, a guardian appointed by the court can choose whether to accept the position or not. However, in assuming the office of guardian they do not have a legal duty to support the child but rather
To formalise his/her appointment, the executor must apply to the Master’s Office for what is referred to as letters of executorship which will only be issued if the Master is satisfied that the will is valid and that the nominated
Where beneficiaries have been nominated on the investment, funds housed in a living annuity do not form part of your deceased estate and can be efficiently transferred to your loved ones in the event of your death.
The death of the first-dying spouse is regarded as a disposal for capital gains tax purposes. Where the first-dying spouse bequeaths his/her share of the joint estate to the surviving spouse, the surviving spouse is treated as having obtained the
