foreign assets
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 in that jurisdiction. It involves obtaining the necessary court authority in the foreign country
If you own assets in a foreign civil law jurisdiction, it is important to understand whether you will be affected by mandatory succession rights in respect of your estate planning. Forced heirship can complicate inheritance especially where you have assets
Your tax commitments follow you to the grave and it is important to bear in mind that Sars has first claim to what is rightfully owing to them.
A distinct advantage of drafting a separate Will for your foreign assets is that you can ensure that the Will fully complies with the laws of the country in which your assets are situated, and that no complications arise.
The length of the winding up process largely depends on the size and structure of the deceased estate, but can also be delayed in instances where the deceased died of unnatural causes, where the Will is contested, where there are
Beware of nominating multiple executors as the logistics of three or more people dealing with SARS and the Master’s Office can be an impossible task.
Even a seemingly insignificant oversight can change the meaning of your Will entirely and lead to unintended consequences.
It is important to make plans for the possibility that you may suddenly become mentally incapacitated. A general power of attorney is not valid in instances where the principal has no mental capacity and would therefore be of no use.
