Estate planning top of mind in 2023!
2023 has arrived and we are enjoying a “mask-less freedom” in South Africa. We have read a book or two that was on our reading list over the holidays on rainy days at the coast, we have indulged in a good dose of vitamin D in the summer sun, ate too much over the festive […]
Wills: Information and decisions to consider
When drafting a Will, certain information is required to ensure that all relevant information is taken into account in the estate planning process and important decisions will need to be made. The Will drafter will need to know your marital status and the details thereof, such as whether the marriage is in community of property […]
What happens to your social media accounts when you pass away?
Most people have at least one social media account, but what happens to your social media account when you pass away? Some social media platforms, like Facebook for example, have a setting where you can choose what must happen to your account after your death. You can either choose to have your account memorialised […]
Letter of Wishes: The what, why, when, when not, where and how
by Gina Lazarides What is a Letter of Wishes? A letter of wishes is a private document that is generally not enforceable and binding in law, which is written supplementary to a will and testament or a trust deed. It provides useful guidance as to the deceased’s wishes to executors, guardians and heirs […]
The latest digital phenomenon: NFTs and important considerations
The latest digital phenomenon, i.e. non-fungible tokens, or NFTs (also pronounced “nifty” or “nifties”) has been taking the world by storm. NFTs are assets held digitally with a unique code or PIN attached to it, in other words unique trading tokens. Similar to an original art piece, there could be prints for everyone to frame, […]
Estate planning for heirs who are physically or mentally incapacitated
When your loved ones are no longer able to manage their own finances, a general or special power of attorney will not entitle you to continue to manage their finances on their behalf. The reality is that, under South African law, if your loved one is no longer able to make his/her own decisions, the general or special power of attorney will fall away. Unlike some other jurisdictions, South African law does not provide for what is known as an […]
Estate planning for South Africans around non South African assets
You may need a separate Will dealing with your non South African assets. A Will drafted and signed in South Africa may be, but is not always, sufficient to deal with your South African and non – South African assets. If you have, for example, externalised your discretionary foreign investment allowances and now […]
Estate planning tools
Estate planning will ease the burden on your family after your death and will allow for the process of the administration of your estate to be done as efficiently as possible. The basics of estate planning should be done by every person. This includes signing a Will, planning for the financial needs of your family […]