When discussing trusts (and the possible formation of one), most people associate the terminology with wealthy families looking after their own, especially upon death. And that is not wrong - family trusts (where all the beneficiaries to a trust are family members) do exist and are sometimes used for this very reason.

It does happen, no matter how careful we may be, that on the passing of our beloved family member, we simply cannot locate their last will and testament. We search high and low, but an actual physical copy cannot be found. Panic sets in. Everyone believes that the deceased executed a will during their lifetime.

A will is a formal, signed, written document, in which the deceased (now referred to as the testator) voluntarily sets out their instructions in unambiguous terms as to how their assets are to be “passed down” or inherited following their demise. 

Our Constitution (at Section 25 of the Constitution) gives us all what is known as “freedom of testation”.  It grants a testator extensive power to draft a will which directs how his or her estate’s assets must be distributed upon death.

Therefore, crypto assets would be treated as intangible assets in your estate for both executor’s fees and estate duty purposes.

Contesting a will essentially refers to raising a formal objection against the validity of a will, based on the contention that the will does not reflect the actual, true intent of the testator. A will may be challenged or contested in its entirety or in part.

A sectional title consists of a part of a building or a separate building on a piece of land that has been converted into a sectional title scheme by means of the Sectional Titles Act No 95 of 1986.

Subdividing is the process by which one property is divided into two or more portions. So sub-divided. When someone buys a portion of a subdivided property, it is exactly the same as buying any other vacant land (or erf).

Once a seller has accepted an offer to purchase (meaning the transfer process has officially begun), the buyer must produce proof that that their bond application has been successful.

Once a seller has accepted an offer to purchase (meaning the transfer process has officially begun), the buyer must produce proof that their bond application has been successful.