Leaving this mortal coil – taking care of your digital and physical assets I have posted a Wishes and Memories booklet on our website that will be a clear record of your funeral wishes, a source of important documents for legal and public records, and a permanent keepsake of your fondest memories to speak to… Continue Reading
The advantages of a modern living-trust-centred estate plan
In many countries, there is what is called a durable power of attorney. Making a durable power of attorney for finances ensures that someone you trust will have the legal authority to take care of financial matters if you become incapacitated and unable to handle things yourself. (The term “durable” simply means that the document… Continue Reading
Master of the High Court: Intestate Succession
IF YOU DO NOT LEAVE A WILL http://www.justice.gov.za/master/m_deseased/deceased_intestate.html See the Intestate Succession Act. Any person of 16 years and over is free to make a will in order to determine how his/her estate should devolve upon his/her death. If you die without a will, your estate will devolve in terms of the rules of intestate… Continue Reading
Freedom Of Testation
Can I choose who to benefit in my will? In South Africa, a person can leave his or her assets to whoever he likes, with few limitations. This is called “freedom of testation“. If a person dies with a valid will, he or she dies “testate”, and without a valid will, he or she dies… Continue Reading
No interest on loans to trusts
One way of avoiding estate duty and donations tax is to sell an asset to a family trust for a market related value. The rationale is to freeze the growth of the assets in the taxpayer’s estate for estate duty purposes. The income tax benefits would accrue to the beneficiaries of the trust after the… Continue Reading
If I am married in community of property, what can I leave in my will?
A client asked: What are the implications when folks get married in community of property after a property was purchased in any one’s name, draw up a will and one passes away? If a couple get married in community of property, they share equally in the assets and liabilities of their joint estate (whether acquired… Continue Reading
Is An Enduring Power Of Attorney Binding In South Africa?
Does my mom’s power of attorney endure if she can’t manage her affairs? A person has full contractual capacity if he or she can conclude a legally binding contract. A party’s contractual capacity may be affected by mental illness, intellectual disability, physical disability, head injury, an extended period of unconsciousness, stroke or extreme old age,… Continue Reading
Overseas assets and your will
If you have offshore assets, it’s a good idea to have separate wills, one for your assets in South Africa, and the other/s for assets in each country where you have assets overseas. Your local will should provide something like ‘What follows applies to my South African assets only’ or ‘This will deals only with… Continue Reading
Must a pension fund give effect to the wishes of the deceased?
The issue before the court was who a pension fund must pay the death benefits to. In a beneficiary nomination form, the deceased nominated only his mother and his daughter. The guardian of the child (Tsele, the complainant) objected to the fact that the pension fund administrators ignored the wishes of the deceased and appointed… Continue Reading
Capacity to benefit under a will
The following persons are disqualified from benefitting under a will: 1) A person who has unduly influenced the person who wrote the will to give him a benefit under the will. 2) A person who is unworthy, e.g. a) A person who unlawfully has caused the death of the testator. This is in accordance with… Continue Reading
