Estates, Wills and Trusts
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.
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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.
In this article we will be discussing estate planning and how it relates to the 3 main types of marriage.
While the subject of death is not usually something we like to focus on, it is however something that needs to be planned to to make things less difficult for our loved ones.
According to the Estate Duty Act, estate duty is charged on the dutiable value of a property. The rate in South Africa is currently 20% of the estates dutiable value.
The Administration of Estates Act 1965, outlines what must happen with an estate after a person’s death. There are certain steps that should be taken to ensure the process of settling an estate is legal.
The purpose of a Living Will is to guide your family and doctors when you are in an unrecoverable medical state and are no longer capable of making your own medical decisions because of this condition.
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