estate planning
Key to the validity of a trust is that the trust founder relinquishes full control of the assets transferred to the trust. It must be clear that the trust founder hands over control of the assets to his nominated trustees
Tax planning is an important part of your overall estate plan, and it’s important to factor in the various taxes that your estate may be liable for. Keep in mind that your death will trigger a capital gain meaning that,
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
In theory, your bank accounts should be frozen in the event of your death. However, in practice, there is generally a delay between your death and the appointment of your executor whose job it is to notify your financial institutions
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
One of the most significant advantages of a preservation fund is that you are permitted to make one full or partial withdrawal from the fund before age 55. If there is a likelihood that you may need access to your
In theory, your bank accounts should be frozen in the event of your death. However, in practice, there is generally a delay between your death and the appointment of your executor whose job it is to notify your financial institutions
Through a Living Will, you can request that certain medical treatment aimed at prolonging your life can be withheld in circumstances where there is no hope of your survival, such as if you are in an irreversible vegetative state with
an alter-ego trust is valid in that it is the trust founder’s clear intention to form a trust, and all the requirements for the formation of a valid trust have been met. As such, in determining whether an alter-ego trust
If you have previously drafted a Will, it is vital that you include a revocation clause in your new Will in which you expressly revoke all previously drafted Wills. If you die leaving two or more different Wills, this can
