Guardian’s Fund
The child’s guardian has the ability to claim funds from the Guardian’s Fund to cover essential expenses such as school and university fees, clothing, medical aid premiums, food, and maintenance costs. However, these claims are capped at R250,000 from the
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
Upon your death, your testamentary trust will come into formation and the assets identified in your will must be transferred to the trust. Your nominated trustees must apply to the Master of the High Court for letters of authority which
Where a minor child inherits money, the Master may direct that these funds are transferred to the Guardian’s Fund, following which an account will be opened in the name of the beneficiary. If the beneficiary has not yet been identified,
While identifying your heirs is important, it’s also important to nominate successive heirs to deal with the eventuality that one or more of your heirs predeceases you. If you are silent on what happens in such circumstances, your executor must
In the absence of a Will, if there is a surviving parent in the event of your passing, that person will be the legal guardian of your minor children. But, if both parents were to die simultaneously or in close
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
If you have children under the age of 18, keep in mind that in terms of our law, they are incapable of inheriting directly. This means that any assets bequeathed directly to them may either be held in the Guardian’s
The child’s guardian (or tutor, curator or person looking after the child) is able to claim from the Guardian’s Fund to cover costs such as school and university fees, clothes, medical aid premiums, food, maintenance and any other costs that
If you intend bequeathing immoveable property, be careful in your estate planning to ensure that no complications or unintended consequences arise. For instance, if you are married in community of property, any immoveable property will be jointly owned by you
