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Deceased Estates

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Administration of Deceased Estates ~ Cape Town

Estate Planning & Structuring

Deceased Estates

The administration of an estate is a complicated process and it is advisable to appoint an attorney as the executor of a will.

Mortis Causa Trust

A Mortis Causa trust is set up in the will and only comes into existence after the death of the founder.

Inter Vivos Trust

An Inter Vivos trust is a handy estate planning tool for building an estate during the lifetime of the founder.

Wills

Administrator of Estates in Gauteng. Administration of Deceased Estates. Estate planning and drafting of Wills and Trusts.

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Antenuptial Contracts

The matrimonial property system chosen by a couple forms the cornerstone of their future estate planning.

Insolvent Estates

Curators and Trustees can be appointed by the Court to administer or wind up certain estates such as insolvent estates.

Estate Lawyers for

 Drafting of Trusts

MORTIS CAUSA

A Mortis Causa trust, or testamentary trust, is established by a will, and its validity is clearly linked to the soundness of the will. The attorney tasked with the drafting of the will, will ensure that the trust is drawn up to meet the specific needs for which it is created.

INTER VIVOS

Inter Vivos or “living” trusts need to be structured in such a manner as to utilise tax exemptions optimally to people who have a true purpose for a trust. An experienced attorney will carefully consider the tax implications when drafting a trust, and the most tax-friendly way to distribute trust income to the beneficiaries.

Administration of Deceased Estates

Estate Administration

The administration of an estate is a complicated process. Various steps have to be taken, in the correct order, to ensure proper compliance with the Administration of Estates Act, 66 of 1965. The Master of the Supreme Court must also be supplied with the proper liquidation and distribution accounts of the estate.

Although the law does not specifically require that an attorney be involved in

  • estate planning;
  • the drafting of a will;
  • the administration and drafting of testamentary or inter vivos trusts; or
  • the administration of deceased estates,

considering the various legal requirements that have to be met when determining the particulars of a legacy, it soon becomes apparent why expert advice is strongly recommended in the handling of these affairs.

Legal Structures Available 

Estate Planning

The art of planning ahead, is anticipating the unexpected. Estate Planning is inherently a long term plan, and as such, it is important to eliminate trial and error. A matter as important as the welfare and security of dependants, or the fulfilment of a deceased’s final wishes, should be done correctly and with the necessary knowledge, the first time around.

When utilising wills and trusts in structuring of estates to limit the tax burden, aspects such as continuity and liquidity should always be taken into account, whether you are structuring for protection against insolvency, tax or in an heir-friendly way.

Specialist administrators of estates have the required skills to manage estate matters, and are familiar with the processes which need to be followed and the requirements which have to be met.

To ensure all your bases are covered, it would be wise to consult a specialist attorney regarding your estate planning – that way you can rest peacefully until you rest in peace.

Professional Advice

Get Answers To Your Questions

Deceased Estates

Drafting of Trusts

Drafting of Wills

Estate planning

Antenuptial Contracts

Curator Bonis

Administration Of Deceased Estates

Deceased Estates

Ensuring your loved ones’ financial security when you are no longer there affords you peace of mind, especially when you know that your affairs are handled properly and with due diligence.

Executor’s Fees

Cost of Estate Administration

The estimated cost to an estate of about R1m could be in the region of about 6% of the Estate’s asset value of which, the Executor’s Fee could amount anything up to a maximum of 3.5% 

%

Of Asset Value

Deceased Estate Administration Process

Estate Administration Process

 

The administration of an estate is a complicated process. Various steps have to be taken, in the correct order, to ensure proper compliance with the Administration of Estates Act, 66 of 1965.

01. Executor

Obtain letter of Executorship from the Master once the application was processed.

02. Administer

Take control of assets of the Estate, and administer the estate’s assets and liabilities.

03. Accounts

Assess estate, compile and submit the Liquidation & Distribution Account.

04. Distribute

Finalise tax obligations, payments, transfers and distribution of the assets.

Online Estate Assessment

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