It is very possible that throughout a person’s lifetime they acquire multiple assets in multiple foreign jurisdictions. Perhaps they purchased assets whilst living abroad, perhaps they used their various South African Reserve Bank allowances to make property purchases or perhaps they themselves inherited assets from non-resident family members in foreign jurisdictions.

In the financial and legal world, an Estate refers to everything of value that someone owns—such as all property owned, in and outside of South Africa (in cases where someone was ordinarily resident in the country), art collections, antique items, investments, certain insurance policies, annuities, intangible assets such as a patent or trademark and any other asset or entitlement.

In the financial and legal world, an Estate refers to everything of value that someone owns—such as all property owned, in and outside of South Africa (in cases where someone was ordinarily resident in the country), art collections, antique items, investments, certain insurance policies, annuities, intangible assets such as a patent or trademark and any other asset or entitlement.

In terms of a bewind (or vested) trust, the beneficiaries are the owners of the trust assets. The nominated trustees only have administrative control over the trust assets, which they manage solely for the benefit of the beneficiaries.

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.

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.