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Fixing lengthy delays on deceased estates

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Losing a loved one is hard. It’s even more difficult to deal with such a loss in the face of long and complicated estate administration processes. It can become emotionally and financially taxing. In South Africa, it is not uncommon for a deceased estate to take two to five years to finalise.

A guide to purchasing property from a deceased estate

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Purchasing a property from a deceased estate is no ordinary property transaction. While there might be a great opportunity to buy a home at an attractive price, it’s essential to understand the complexities involved, including the possibility of prolonged waiting periods.

Trusts, far from obsolete

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Locally, as trust compliance becomes more complex and trusts become more costly to administer, their value is increasingly being questioned. However, a trust’s worth extends beyond its financial benefits, and as such, they are still very relevant tools to use in a well-crafted estate plan, especially for high-net-worth families. 

Draft Tax Law Amendments – what you need to know

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On 31 July 2023, National Treasury released their annual draft tax law amendments, for public comment. Although still at the draft stage, there are some pertinent proposed changes for which the supporting systems have already been implemented i.e., the “Beneficial Ownership Registers”.

Why a will & estate planning go hand in hand

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According to recent research from the Master of the High Court of South Africa, it’s estimated that 15% of South Africans who die have a will in place, which means that five out of six don’t. If you die without a will, your estate will be intestate. This can be a long and drawn-out process, and the assets from your estate will not be in line with what you wanted.

Is your cryptocurrency part of the legacy you’ll leave behind?

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Although cryptocurrencies are on an upward trajectory in South Africa, a cryptocurrency wallet is worthless without its key or password. That was the reality for a 24-year-old Bitcoin-holder in 2021, who, after mining 20 Bitcoin for more than ten years when the cryptocurrency was still only worth a few cents, lost his wallet key and access to around R14.18 million in Bitcoin.

Championing consumer financial protection within the banking industry

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The need for trust within the banking sector has, in recent years, never been more important than it is today. Recent times have seen the South African banking public being exposed to news of bank failures elsewhere and if that was not enough worry for the consumers, their stresses are further aggravated by their inability to meet their repayment obligations to their creditors brought about by the rising global cost of living crisis and the ongoing energy crisis.

Everything you need to know about winding up an estate

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The passing of a loved one is always a traumatic experience. Not being prepared for the financial realities can add more anxiety to an already painful and stressful time in your family’s life. According to Statistics South Africa, more than 70% of South Africans don’t have a last will and testament. I suggest that you get your estate plans in order as soon as possible. You never quite know when your time is up.

Wills, estate planning and generational wealth

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Although a will is essential, holistic estate planning ensures that the next generation has financial freedom. This may seem obvious and straightforward, but there are many considerations and legalities that can make this process hard to navigate on your own. 

What can happen to your family if you have no will?

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Between 70 and 80 percent of South Africans do not have a will to protect their loved ones in the event of their untimely death. Unfortunately, this will not only burden the surviving family members with unnecessary emotional and financial stress but will also delay them gaining access to their rightful inheritance.

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