You do not necessarily need a family trust. It is one planning tool that can be useful where a family wants assets to be managed separately from individual ownership and according to rules that can continue across death, incapacity or…

“Living trust” is not a formal statutory term in South African trust law. It is commonly used to describe an inter vivos trust, meaning a trust created during the founder’s lifetime rather than under a will after the founder’s death.…

South Africa does not impose a separate inheritance tax on an heir merely because the heir receives an inheritance. Estate duty, where applicable, is calculated in relation to the deceased’s dutiable estate before ordinary estate distributions are made. The ordinary…

A tax-free savings account (TFSA) provides valuable tax advantages, but your choice of investments determines the risks you take and the returns you may earn. No single investment is appropriate for everyone. Start with the purpose of the money, when…

No. The Wills Act 7 of 1953 does not require an attorney to prepare a will. A will can be valid whether it was prepared by the testator, an attorney or another competent professional, provided the legal formalities are met.…

Where an executor is appointed, distribution follows the Liquidation and Distribution account process under section 35 of the Administration of Estates Act. The executor first identifies and collects the assets, deals with liabilities and tax, and prepares the account. After…

From a beneficiary’s perspective, an estate is effectively “settled” when the statutory administration has progressed far enough for the executor to pay creditors and distribute the inheritance in accordance with the Liquidation and Distribution account. There is no statutory minimum…

South African law does not reserve will drafting for attorneys. You may draft your own will or ask an attorney, fiduciary specialist or another person to assist. What matters is that the final document records your intentions accurately and complies…

Yes. A lawyer is not legally required to draft or execute a South African will. Formal validity depends on the testator having the required capacity and on the will being executed in accordance with the Wills Act. Professional input can…

Immovable property belonging to a deceased estate must be dealt with through the estate administration process and transferred through the Deeds Office by a conveyancer. If the property is awarded to an heir in the Liquidation and Distribution account, section…