Not in the same way that you withdraw money from your own bank account. Money held as trust property must be dealt with by the trustees in accordance with the trust deed and their fiduciary duties. A beneficiary can request…

A deceased estate itself is not “for sale” as a legal entity, but assets forming part of a deceased estate can certainly be sold during administration. This most commonly refers to a property marketed as a “deceased estate sale”. The…

A deceased estate must generally be reported to the Master of the High Court within 14 days of the date of death. Section 7 of the Administration of Estates Act 66 of 1965 sets out the reporting obligation and identifies…

The direct counterpart to an inter vivos trust is a testamentary trust. An inter vivos trust is created during the founder’s lifetime, while a testamentary trust is created under a person’s will and takes effect after that person dies. A…

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…

There is no statutory minimum fee for drafting a will in South Africa. A will may be drafted free of charge during initiatives such as National Wills Week, included in a broader fiduciary or financial services offering, or charged for…

A valid will is generally beneficial, but it has limits and cannot deal with every aspect of planning. A will operates on death. It does not manage your affairs while you are alive if you lose mental capacity. An ordinary…

Two different estate values are commonly relevant: the value used for estate administration and the value used for estate duty purposes. For deceased estate administration, the executor or person reporting the estate identifies the assets and rights that fall to…

There is no single release date because different assets follow different legal processes. Money in the deceased’s bank accounts is generally frozen against ordinary personal use after the bank becomes aware of the death. Once the executor is appointed, estate…

Yes. You can transfer an existing South African tax-free savings account (TFSA) to another qualifying provider without using more of your annual or lifetime contribution allowance, provided the transfer takes place directly between the providers through the prescribed process. You…