Estate planning is important in ensuring that financial complications do not occur after your death.
Without proper estate administration, even the wealthiest of families have suffered severe financial blows, because the deceased's estate was not properly identified and safeguarded by legal experts.
The administration of deceased estates and estate planning, requires specialised skills and insight, something we at Van Deventer and Van Deventer Incorporated take pride in.
Our professionals are able to develop tailor-made solutions for our clients, guiding them in the light of their specific circumstances.
Our estate planning services - which may involve the formation of trusts, or the drafting of new, tax-efficient, legally sound wills – gives our clients the confidence and peace of mind in this important aspect of their personal planning.
Trusts have an important role in preserving wealth from generation to generation.
The deceased's estate can be transferred to a trust, making it the most efficient way of saving money.
At Van Deventer and Van Deventer Incorporated, we assist our clients with the creation of trusts and the administration of trust assets.
We also offer our clients sound advice on tax implications of trusts.
While you may not want to think about the possibility of your life ending, death is inevitable, and it would be wise to ensure that once your time on earth comes to an end your loved ones are still being taken care of.
By creating a last will and testament, and assigning the power of attorney over your estate to someone who you can trust, the financial interest of your heirs are guaranteed to be protected.
A last will and testament (which may be referred to as a will) is a specialised document which should be drawn up by an attorney.
Any person older than 16 years is allowed to make a will and choose their power of attorney, in order to determine how his or her estate should devolve upon death. If you die without a last will and testament, your estate will devolve in terms of the rules of intestate succession. Contrary to general belief, your assets do not go to the state.
Our team of experts are committed to providing holistic solutions to our clients, in all facets of their interactions with the law.
This has enabled us to offer a comprehensive service in the crucial fields of estate planning, administration of deceased estates and last will and testimonies.
Death is an extremely difficult time for all concerned, and only a few people are equipped to cope with the legal and financial consequences of death.
It takes a professional with working knowledge and expertise in the winding up of deceased estates to guide the process.
At Van Deventer and Van Deventer Incorporated, we will guide you or your loved ones through the process, from reporting the estate to the Master of the High Court, through to exacting procedures prescribed by law, to the final distribution of the estate to the beneficiaries.
And we will do so in an efficient, yet empathic manner.
Contact us to assist you in these complex and demanding matters, so that you have the benefit of our client-focused expertise when you need it the most.
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In a recent landmark ruling, the Constitutional Court (Concourt) confirmed the invalidity of Section 1 (1) of the Intestate Succession Act 81 of 1987, as well as Section 1 of the Maintenance of Surviving Spouses Act 27 of 1990. The initial application had been brought before the Western Cape division of the High Court whereby the Applicant (surviving life partner) sought an order against the Executor’s rejection of a claim for inheritance and maintenance against the deceased estate.
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Not all people who find themselves having to deal with Trusts understand what it is all about, therefore in this brief discussion we will highlight the prominent issues that one has to familiarise themselves with in order to safeguard their interests when dealing with a Trust.
Read More ...Posted by Cor van Deventer on Wednesday, September 29, 2021 Views: 389