heirs
If a couple is married in community of property, both spouses remain jointly and severally liable for all the debt in estate, including any debt that was incurred before the date of marriage. Upon the death of the first-dying spouse,
If you’ve acquired any foreign assets since drafting your Will, this may necessitate a review of your Will. Depending on the nature and jurisdiction of the foreign assets, it may be necessary to have a foreign Will drafted. In such
While South Africans enjoy freedom of testation, this freedom has a number of limitations, with Section 37 being one of them. The Act makes it clear that the member’s Will or beneficiary nomination cannot override the provisions of Section 37C,
Upon the death of the first-dying spouse, the increase in the real value of the respective estates must be determined and accordingly the accrual claim. In its most simplistic form, if the surviving spouse’s share is less than the that
The matrimonial property regime under which a person is married will naturally impact on the estate duty calculation. Where a couple is married in community of property there is only one estate. This means that should one spouse die, the
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
If a couple is living together as ‘husband and wife’ but are not married, there is effectively no marriage capable of dissolution and there can be no transfer of pension interest benefit.
When distributing your assets, the executor will first use your assets to pay the costs of administering your estate and to pay your creditors. Thereafter, your legatees will receive any legacies due to them in terms of any special bequests
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
