executor
Trustees play a vital role in managing and administering the assets bequeathed to your testamentary trust for the benefit of your minor children. As such, it is essential that your trustees have the appropriate financial acumen and understanding of the
You must ensure that there is no sizeable gap between the last paragraph of your Will and your signature, as this can lead to your Will being declared invalid. A significant gap can provide fraudsters and those will ill-intent opportunity
If you have a Will, it is likely that the Latin term per stirpes appears in your Will. Per stirpes is a legal stipulation which requires that if one of your beneficiaries dies before you, her share of the inheritance
If you have a special needs child, ensuring that those assets intended for him are protected and managed in his best interests even after your passing is a critical part of generational wealth planning. Special trusts, whether testamentary or inter
The executor is then required to advertise the deceased estate so that any potential creditors can register their claims. To do this, the executor will need to place a Section 29 advert in the local newspaper and government gazette in
In order for your Will to be valid and to avoid contestation, ensure that you sign your Will in the presence of your witnesses and that you, in turn, watch them witness your signature. The validity of your Will can
Your tax commitments do not die with you and it is important to note that SARS has first claim to what is owing to them. In fact, a deceased estate cannot be finalised until your tax affairs have been fully
If you have minor children and are the first-dying parent, the surviving parent will be the legal guardian to your children. In the absence of a living guardian, the Master will appoint a guardian for your children after taking into
The assets in the estate may only be distributed amongst the beneficiaries once all the estate’s debt has been settled, including SARS. As such, the executor is required to advertise the deceased estate so that any creditors can register their
A revocation clause is a paragraph inserted in your Will which revokes all other Wills that you have ever drafted and declares the current Will to be your Last Will and Testament. Although a testator is not legally required to
