When a natural person dies, that person is called a ‘deceased person’ and all his or her assets on the date of death are placed in an estate. This estate is then referred to as a deceased estate. And arising from this deceased estate are certain inheritance taxes that the deceased estate has to pay.

Everyone has a cousin in Australia! Something we have said in jest before. But the truth is, immigration is a topic of conversation which has become commonplace nowadays - “when are you planning on leaving the country?” asked by every parent, aunt, uncle and well-meaning friend of a friend.  It is safe to say that we have all had this type of conversation at one point or another over the years.

Because the passing away of a loved one leaves families (and friends) in pieces, not knowing which way to turn first. So let’s make it easier on them and ensure that your estate is perfectly set up long before you shuffle off your mortal coil. Be the early bird and help your beneficiaries catch the worm… the first step – your will.

A simple letter of direction or “assets log” can greatly assist your Executor to fulfil their role in the best, and most efficient way. The more your Executor knows about your Estate, the more he/she can gather the information themselves, without a great deal of expense incurred to your Estate during the information gathering process.

South Africa and the United Kingdom entered into an agreement in 1978, otherwise known as a Double Taxation Agreement. This agreement is to eliminate double taxation in relation to Estate Duty (Inheritance Tax).

Assets in South Africa need to be managed by an executor legally authorised Master of the High Court. It’s important to be cognisant of implications in the legal administration of Deceased Estates.

In order to bring a sense of calm during this period of panic, it is recommended that you get your affairs in order and seek professional assistance, legal, financial and tax, relating to your estate as a whole. We are specialist private client attorneys and we are here to help you through this tumultuous time.

Choosing an executor can be stressful, particularly if you have more than one child, a complicated estate (i.e., many assets or debts), or you anticipate conflict among your beneficiaries. Here are some guidelines you can follow to facilitate the process.

We outline the main features of the administration of a deceased estate, as well as the legal aspects involved.

To make sure your wealth and assets are managed to properly provide for your family in the event of your death, it’s imperative that you have an experienced attorney draft an estate plan that suits your individual needs.