The Gravity of Major Life Changes Like Divorce
Having a valid Will in place is an essential part of an effective estate plan. However, it is also essential to ensure that your Will is regularly updated to reflect major life changes. One of the most commonly occurring life changes is divorce. Legally, divorce or the annulment of a marriage has the potential to […]
Inspiring, Meaningful and Authentic visions shared from both Masters of the High Court in KwaZulu-Natal and Executors Role
The administration of an estate is not dependent on one aspect or institution but multiple aspects and institutions working well together. It is important to understand that the core function of the Master of the High Court is to oversee the administration of deceased estates. One of the key roles of the Masters office is […]
3 Practical Steps to Ensure Effective Estate Planning in 2024 and Beyond
Have your Will drafted (or updated) by a professional The first, most essential step in your estate planning journey is to ensure that you have a valid Will in place. In South Africa, a valid Will determines who your beneficiaries will be and how your estate will be distributed when you pass away. Having a […]
Effective Estate Planning – The Importance of a Current Will, Life File & Our App
In South Africa, a valid Will determines who your beneficiaries will be and how your estate will be distributed when you pass away. Having a correctly drafted Will in place ensures that your estate can be distributed according to your wishes and that your loved ones will be provided for when you are gone. However, […]
Protecting Your Unborn Beneficiaries: The Nasciturus Fiction
The South African law relating to a deceased person’s estate, and who their beneficiaries will be, is set out by legislation. If a person dies testate, or having left a will, their beneficiaries will be named in the will and the guiding statute will be the Wills Act 7 of 1953. If a person dies […]
What are the Advantages of a Family Trust?
A family trust is an estate-planning instrument that creates a legal relationship between various people. When a trust is established, a person (the founder) or people (the founders) donate money or assets to another person (a trustee) or people (trustees) to hold for the ultimate benefit of a different person (a beneficiary) or people (beneficiaries). […]
Destroying or Forging a Will: Criminal Offences in the Administration of Estates Act
The Administration of Estates Act 66 of 1965 sets out the procedures that must be used in administering a deceased estate such as applying for the letters of executorship, acting as an executor, advertising an estate, compiling a liquidation and distribution account, dealing with claims against an estate and distributing the estate to beneficiaries. Section […]
Dying Without A Will: Intestate Succession in South Africa
When a person dies in South Africa without leaving a valid will, the Intestate Succession Act 81 of 1987 will come into operation. The Act determines who will inherit the estate of a person who died without leaving a will or who died leaving a partially or fully invalid will. When someone dies without leaving […]
Advantages of Having An Executor Who Is A FPSA®
Appointing the executor of your estate is an extremely important decision because he or she will ‘step into your shoes’ when you pass away and be responsible for the administration of your estate and ensuring that your final wishes are honoured, and your loved ones are taken care of. The administration of a deceased estate […]
What is Freedom of Testation and why is it important?
The principle of freedom of testation states that every person may legally decide what happens to their own estate after death. Practically, this means that everyone may create a will at any time throughout their life to make their wishes and instructions known when they die. A person who makes a will is known as […]