offshore assets
The necessity of having an offshore Will depends on several factors, including the type of asset, the jurisdiction in which it is located, and its overall value. Generally, if you own immovable property in a foreign jurisdiction, it is advisable
Living annuities do not fall under the scope of the Pension Fund Act and are therefore not subject to Regulation 28 and, as such, there is no limit to the amount of foreign exposure you may hold in your living
If you are invested directly offshore, it is unlikely that you will need a foreign Will for these assets. However, if you have other assets offshore, such as fixed property or business interests, it may be necessary to seek estate
Having a foreign executor appointed in a foreign will means that your local estate can be finalised without delays caused by obtaining recognition in a foreign jurisdiction. Further, a foreign will dealing with offshore assets will address specific requirements of
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, although keep in mind that obtaining a probate order may delay the winding up
If you have a special needs child, ensuring that those assets intended for him are protected and managed in his best interests even after your passing is a critical part of generational wealth planning. Special trusts, whether testamentary or inter
When choosing witnesses for your Will, remember that no one who stands to benefit from your estate should be allowed to witness your Will. If a beneficiary to your Will also signs as a witness, he/she can be disqualified from
