Understanding living wills
When one thinks of a will, the first thing that comes to mind is probably a last will and testament. This type of will expresses a person’s wishes after they have died. However, a living will, despite sharing some similarities with a last will and testament, is not the same thing. It can be described […]
Understanding estate massing in community of property marriages
In community of property marriages, spouses often combine their estates, or mass their estates, to ensure that certain assets go to specific beneficiaries. This is done while still ensuring the surviving spouse’s welfare and protecting assets from being misused after the first spouse passes away. This article will explain the necessary conditions for this estate […]
The omission of a single word can lead to a will being contested
The contents of an “inelegant and very badly drafted” will were recently the subject of a dispute in the South Gauteng High Court, in the matter Strauss vs Strauss and Others. The plaintiff instituted action claiming that the joint will of his parents not only made provision for the situation where they died within 30 […]
Can you inherit from someone you have merely been living with?
In South Africa, the number of couples who are permanently living together in life partnerships is increasing every year. What are the consequences that would ensue if either of the partners in the relationship dies without a will? Should a surviving partner in such a scenario have a claim for inheritance or maintenance from the […]
Navigating the amendments to the Trust Property Control Act: Beneficial ownerships in South Africa
The Trust Property Control Act, a key piece of legislation governing South Africa’s trusts, recently underwent a substantial transformation with the passage of the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act. This regulatory overhaul was aimed at strengthening the country’s trust governance, a direct response to its greylisting status, and has significant […]
This is what happens to your assets if you die without a will in place
Life is unpredictable, and while we don’t like to dwell on it, death can come without warning. With this uncertainty, it’s essential to ensure you have a solid plan for your assets, ensuring they reach the hands of those you hold dear. Having a will isn’t only about old age, it’s a proactive step you […]
Estate planning in South Africa: Essential questions answered
Estate planning is a critical part of financial planning, yet it often gets overlooked. This process involves drafting a will, assigning assets to beneficiaries, and understanding how a deceased estate will be administered. To shed light on this topic, here are answers to some frequently asked questions about estate planning that might assist in helping […]
The importance of witnesses when signing a will
I gave instructions to my attorney to prepare a Will for me as my most recent Will no longer reflected my wishes. My attorney emailed the Will to me with clear instructions as to how I should go about signing the Will. I asked my neighbours to act and sign as witnesses. My neighbours signed the Will on all the pages and […]
Will-stipulated purchase option: Are there transfer duty impacts?
Any person drawing up a last will and testament, and who intends to include an option to purchase any of their properties, should be aware of the transfer duty implications such provision might bring forth. This article intends on discussing the beforementioned implications at the hands of the case of Secretary for Inland Revenue v […]