Master of the High Court
A very effective option for the administration of your spouse’s financial affairs is to set up a Special Trust Type A which is a trust created solely for the benefit of a person with mental or physical disability and which
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
No guardian can sell or mortgage any immoveable property belonging to the minor unless permission has been granted by the High Court, keeping in mind that the court will also act in the best interests of the child.
If your fixed property is bonded and you have the appropriate level of bond cover in place, your executor will settle the bond using the proceeds of the life cover and bond cancellation instructions will be issued, thereby allowing your
To ensure the validity of a trust, the trust donor must relinquish control of the trust assets to the trustees. As such, one of the first functions of the trustees is to identify the various assets of the trust, prepare
An alternative to appointing a Curator Bonis or Administrator is to set up a Special Trust Type A, which is a trust created solely for the benefit of a person with a mental or physical disability which prevents him from
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.
If you have minor children, not making provision for a testamentary trust can lead to problems and unintended consequences after your death.
The need to revise one’s Will is generally triggered by certain events such as the birth of a child, marriage, divorce, the death of a beneficiary or executor, or gaining property that is not part of your existing will.
