Estate Planning

Boedelbeplanners en administrateurs moet kennis van die onlangse kosteverhogings neem. Meestersgelde, BTW, boedelbelastings- en skenkingsbelastingskoerse is verhoog. In die Minister van Finansies se onlangse 2018-begrotingstoespraak het hy die verhoging van BTW van 14% na 15% met ingang van 1 April 2018 aangekondig. Die meeste professionele eksekuteurs en trustees behoort geregistreerde BTW-betalers te wees. Eksekuteursfooie is […]

Estate planners and administrators must take note of recent cost increases. Master’s fees, VAT, estate duty and donations tax rates have increased. In the Minister of Finance’s recent 2018 budget speech, he announced the increase of VAT to 15% from 14% with effect from 1 April 2018. Most professional executors and trustees should be registered

We hear a lot nowadays about the importance of avoiding a conflict of interest, and a recent court case illustrates, somewhat dramatically, the effects of an unresolved conflict. This case is Elena van Niekerk v Kathleen van Niekerk and the Master of the High Court 2011 (2) SA 145 (KZP). Mr Basil van Niekerk divorced

The dangers of an unsigned will and intestate succession. A will is essentially a contract one enters into with the person one wishes to take charge of dealing with all one’s assets (and liabilities) after one dies.  A non-existent, unsigned or incorrectly signed will can cause practical problems and place surviving family members and dependants

This edition of Estate Planning Essentials is the last in a 3 part series and looks at some of the practical issues that farmers face, concerning their estates.   Read on…

A farmer’s will often tries to accomplish the equal treatment of family members, yet the wording of a will often leads to unenforceable wishes and major liquidity shortfalls in the estate. Issues that need to be discussed in full with the farmer before the will is drafted are:  Read on…..

Estate planning is specifically important where a family business is involved, especially when the family business is a farm. Certain practical issues are often not taken into consideration when dealing with the complexities of the estate of a farmer as a business owner. The following three-part series of Estate Planning Essentials will look at these

This year’s pre-budget anticipation did not go entirely unrewarded. While the budget speech itself contained very little by way of change, it was a comment included in Chapter 5 of the 2010 Budget Review which has caused the biggest stir. With regard to research proposals for possible attention in the tax proposals for 2011 and

The 2009 Taxation Laws Amendment Bill will introduce a new way of applying the R3,5 million estate duty abatement and with it, significant and unexpected estate duty savings for some estates. In this issue of Estate Planning Essentials we look at the technical background to the amendment as well as at some of the considerations

The recent untimely death of a friend highlighted the need for an answer to the question – Joe’s just died, what do we do now?  Death is not something we like to think about but we need to make sure that our affairs are in order, so that surviving family members are not caused further

Using a retirement annuity provides a viable alternative to traditional estate planning instruments. Here are ten estate planning reasons to look at RA’s this retirement annuity season. Traditionally, clients wanting to provide for a surviving spouse with the benefit of added estate duty relief would look at creating a usufruct as their instrument of choice.

The Administration of Deceased Estates Act allows an executor to charge fees up to an amount of 3,99% (including VAT) on the gross asset value of the estate. Clients typically do not negotiate executors’ fees upfront, but rather leave surviving family members to deal with this issue after death – if at all.  Most executors

The R3.5m abatement amount is a useful technique when structuring a client’s will but should not be used blindly, without due consideration. Estate planning involves building a strategy and putting the underlying structures in place to assist with the accumulation, preservation and distribution of a client’s assets. Once the relevant structures have been established, implementation

In this issue we look at the drafting of Wills and some of the general mistakes people make – some of which can have serious practical implications. A badly drafted Will may cause delays in the winding up of the estate, in some cases even resulting in rifts among the beneficiaries. Read on