• A will provides clear instructions for the executor on how to distribute assets, ensuring the testator’s wishes are honored. It also allows the testator to provide for their spouse or beneficiaries.

• Anyone over the age of 18, who is of sound mind and not insolvent, can draft a valid will

• A will becomes invalid if it is improperly witnessed or if a beneficiary signs as a witness

• The executor is responsible for protecting, managing, and transferring assets as per the will’s instructions. They ensure compliance with the Master of the High Court's requirements

• By providing a Letter of Executorship or Letter of Authority issued by the Master of the High Court.

• Yes, but only to cover fees and costs related to the administration of the estate.

• Yes, beneficiaries can request progress updates from the executor or contact the Master of the High Court directly. Beneficiaries may renounce their inheritance but cannot renounce part of it.

• A Letter of Authority is issued for estates valued at R250,000 or less.
• A Letter of Executorship is issued for estates over R250,000 and requires full compliance with the Master’s rules, including advertisement of the Liquidation and Distribution (L&D) account.

• As per the Administration of Estates Act 66 of 1965, any funds or income from the deceased’s assets must be deposited into a dedicated estate late bank account. This ensures proper record-keeping and compliance.

• No, properties must be transferred to the surviving spouse, children, or a qualified buyer per the Master’s rules.

• Submit a completed death notice and other required documents to the relevant Master’s office within 14 days of the person’s passing.

Taxes applicable may include:

• Income Tax
• Capital Gains Tax
• Estate Duty
• Donations Tax

• A testamentary trust is established according to a person’s will and becomes effective upon their passing. It helps manage and distribute assets responsibly for beneficiaries.

• Children’s Trust: Ensures financial security for minors, covering education, healthcare, and maintenance needs.
• Widow’s Trust: Provides regular income to the surviving spouse while preserving the principal for future beneficiaries.
• Provider’s Trust: Offers ongoing financial support for dependents with disabilities or special needs.

• As per the Administration of Estates Act 66 of 1965, any funds or income from the deceased’s assets must be deposited into a dedicated estate late bank account. This ensures proper record-keeping and compliance.

• Living trusts allow for seamless asset management during your lifetime and can reduce legal and administrative costs compared to will-based estate planning.

• Protect and manage your family’s financial future.
• Minimize court costs, legal fees, and administrative delays.
• Ensure privacy and control over your assets.