1. Deed of Transfer: The all-important drafted deed by which the right of ownership of land is transferred from one person or legal entity to another. After Transfer, it is referred to as the Title Deed, and it is crucial to keep it safe as it serves as the owner’s title to prove
Current Estate Duty/ death tax rate in RSA: 20% off the dutiable amount for estates that are up to R30M in value and 25% off the dutiable amount for estates over R30M in value. Current Estate Duty abatement for individuals: R3.5M What does this mean? The first R3.5M of your estate, as an individual,
This article will be useful to those who are thinking about setting up a Trust, as well as to some founders and beneficiaries of Trusts. There are 2 types of Trusts: (a) an Inter- Vivos Trust, which is created between living persons (living trusts), e.g.: Family Trusts; and (b) a Testamentary Trust, which is created
Did you know that if a person dies without drawing up a valid Will, the Estate is finalised according to intestate succession laws and the Master may require that a bond of security be provided before they grant the letters of executorship? A bond of security usually has to be provided for the gross value
Here’s a checklist to help you get your estate (or that of a loved one) organised! Plan well. Live well. Do you have a valid Will and does it need updating? You should get a Last Will and Testament drafted when you become an adult, or as soon as you acquire assets. And have it
1. Are Free Wills advisable? The Legal Profession is taking great strides in making Wills accessible to the public at large and in doing so run an annual Free Wills Week, or offer the drafting of free basic Wills at various Clinics or pro bono offices. These are usually done with the good intention of
1. How is my property dealt with if I die without having a valid Will? If a person dies without a valid Last Will and Testament, their estate, which includes their movable and immovable property, devolves according to the Intestate Succession Act 81 of 1987, of South Africa. Therefore, the intended bequests of an individual,