Estates, Wills and Trusts
Many South Africans are wondering if executing a will during lockdown is possible and, if so, how can it be done while meeting all the legal requirements? Here are some tips on executing a will during lockdown.
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With their primary audience being executives and investors, we were honoured to be approached by one of Finweek's business journalists to answer frequently asked questions related to wills and estates in South Africa.
There are many areas of a will that, when not written correctly, can be misinterpreted. The result is your estate is not administered or distributed according to your wishes. This article is the final part of a two-part series that addresses how to write a will in South Africa and, most importantly, what mistakes to avoid.
The most important thing to keep in mind when drafting a will is to make sure there is no room for uncertainty or ambiguity. This is to ensure that there is no confusion among heirs or beneficiaries regarding their inheritance which may result in a contested will.
There are certain advantages and disadvantages that come with buying a house in a trust that already exists.
In this article, we discuss the various benefits and implications of purchasing immovable property in the name of an existing trust.
If you die without leaving a will in South Africa, the rules of intestate succession will apply as stipulated in the Intestate Succession Act 81 of 1987.
Any person above the age of 16 is entitled to make a will which determines how his or her estate should be distributed upon death.
If you are looking to transfer property to a minor child, it’s important to be informed about the challenges you might face should you want to sell the property after it has been transferred.
There are many details that need attention when it comes to deceased estate taxation laws in South Africa.
Just as we are liable to pay taxes on income, purchases and other transaction made throughout our lives, there are taxes for deceased estates too.
The South African Revenue Service is taking a very close look at trusts and the abuse thereof, so unless one can commercially justify why certain transactions were done by a trust, the motivation will be investigated.
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