estate planning
In terms of calculating estate duty, there is an abatement on the first R3.5 million of the value of the estate which is not subject to tax. If the deceased is the first-dying spouse, they may roll over any unused
If you intend setting up a trust, do not underestimate the importance of choosing appropriately skilled trustees to manage the trust assets, keeping in mind that the job a trustee is an onerous one that should not be taken lightly.
Once the assets are transferred into the trust, they no longer belong to the trust founder and the trustees are required to take over full control of the assets and ensure that they are managed to achieve the best outcomes
If you’re fit and healthy, you may want to remain in the family home for longer. You may also not feel ready to enter into a retirement home or village while you are still enjoying good health, which is understandable.
As a word of caution, if your will is found to be invalid, for whatever reason, no testamentary trust can be formed which can result in your beneficiaries being financially prejudiced.
To ensure that your creditors are notified of your intention to amend your marriage contract, you will be required to publish a notice to creditors in two local newspapers (one English and one Afrikaans) as well as in a government
We often take for granted how much changes over the course of single year and, while you may feel confident that your Will is up to date, it’s worth taking out your Will to double-check its contents. At the same
To avoid any doubt or confusion as to who the testator is, make sure that your will includes your full name and ID number. Many families make use of family names that get past through generations resulting in multiple members
The acquisition of foreign assets subsequent to drafting your will may necessitate a review of your will, although this would depend on the nature of the asset and the jurisdiction in which it is held. Generally speaking, a foreign will
