Master of the High Court
Our law recognises that the mental capacity of the patient may differ from day to day depending on the diagnosis and that the administrator’s function should be proportionate to the patient’s mental health status, keeping in mind that the patient’s
Executor’s fees are regulated by statute and are set at a maximum of 3.5% (plus VAT) on the value of the gross assets in your estate plus 6% of income accrued and collected after your death. However, in many instances,
The type of trust you intend to register will hinge on the estate planning objectives that you hope your trust will achieve. For instance, a family trust can be used to house and protect property or assets intended for future
The L&D account must then be advertised in the local newspaper and government gazette in terms of Section 35 of the Act. The provides an opportunity for any interested parties to lodge objections with the Master. If no objections are
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,
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
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
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
By law, the executor is required to administer the entire estate on the passing of the first-dying spouse, and not just one half of the deceased’s share. As such, the executor’s and Master’s fees are calculated on the gross value
The trustees that you appoint will have a fiduciary duty to manage the trust assets in the best interests of the trust beneficiaries, and it is therefore important to choose your trustees wisely. Ideally, you should consider someone who has
