Tag: Peter Veldhuizen

Death has no diary. It does not wait for neat files, updated passwords, or family harmony. It arrives when it arrives. And when it does, the executor steps in. In theory, it is a straightforward appointment. In practice, it is anything but. I have seen firsthand how often people underestimate this role. Appointing an executor is not a box-ticking exercise. It is one of the most important decisions in an estate plan. Yet it remains one of the least interrogated.

When a trust suffers a loss through negligence, misconduct or mismanagement, can the beneficiaries take legal action directly against a third party? The answer is nuanced. Recent legal developments, such as the McCann vs McCann case in the KwaZulu-Natal High Court, are bringing new clarity to the rights and remedies available to trusts and their beneficiaries.

For many South African farmers, a farm is more than an asset – it is a family legacy, a business and often the entirety of their net worth. However, when it comes to estate planning, one critical factor is often overlooked: liquidity. Without adequate liquid assets, heirs may encounter financial strain and operational challenges. In some cases, they may even be forced to sell the family farm to meet estate commitments.

It is that time of year again when you are swapping out your summer wardrobes for your festive season attire. You are having a long-overdue de-clutter and booking annual check-ups for the family. While you are at it, take the opportunity for your annual personal estate review to re-evaluate your estate documents and give the administrative side of your life a thorough spring-clean too!

In the same way that prenuptial agreements are considered a necessity for many marriages, business partnerships require meticulous planning to safeguard against the consequences of potential disputes and ensure a smooth separation if the need arises. By incorporating comprehensive shareholder agreements or Memorandums of Incorporation (MOIs), businesses can protect their interests and foster fair and equitable outcomes during unforeseen conflicts.