Wills and Estate Planning Specialists

Estate planning has a strong focus on structuring your assets and liabilities in such a way as to ensure their continued value to your heirs for many generations. This includes ensuring your business is managed after your passing, tax efficiency and ensuring your estate has enough liquidity to cover all the expenses.

You do not pay tax on inheritance you receive. you will only pay tax once the inheritance receives income, for example if you earned a lump sum and you deposit it and obtain interest therefrom.

A will is a document that sets out how you want your assets to be distributed when you pass away. A plan is a guide on how to structure your assets to protect your assets and reduce your tax burden, whether in the form a will, a trust or both.

The principle of freedom of testation is one of the cornerstones of the law of succession in South Africa. You can save your estate money on estate duty and administration when you have a proper structure in place. Every person who have assets needs a will. This will help your heirs when you pass away to relieve the administration burden. Estate plans will be for persons that have a number of assets wishing to reduce their tax burden when they pass away.

Wills can cost as little as R 500 and sometimes free provided that the company drafting the wil is appointed as an executor.

You can draft your own will, however you may run the risk that the will is declared invalid which will mean that you will die intestate.

Estates less than R250 000 must still be reported to the Master of the High Court and a master representative will be appointed. It is not necessary to follow all the steps required for an estate over R250 000.

Most lawyers and accountants offer will drafting, it is however important to speak to someone with experience in deceased administration as you run the risk of complications and delays in the administration of your estate as a result of a poorly drafted will