Wills & Trusts | JoubertScholtz
This entry was posted in Wills & Trusts and tagged Financial power of attorney, Living will, trusts on December 8, 2016 by Toksentjops.	What you need to know about estate planning
In community of property Where the parties are married in community of property, the surviving spouse will have a claim for 50 percent of the value of the combined estate, thus reducing the actual value of the estate by 50 percent. The estate is divided after all the debts have been settled in a deceased estate (not including burial costs and estate duty, as these are the sole obligations of the deceased and not the joint estate). Only half of any assets can be bequeathed.
Life insurance The proceeds from life insurance policies can be used to:
This entry was posted in Wills & Trusts and tagged Estate duty, Liquidity, will on December 8, 2016 by Toksentjops.	Your Will – an important document
This entry was posted in Wills & Trusts and tagged Estate planning, Executor, will on September 13, 2016 by Toksentjops.	What are mutual Wills?
Do the estates merge? Merging of estates takes place when the estates of two people are joined into one upon the death of the first spouse, mainly with the aim of managing an asset in which both parties had an interest. Normally a limited right, such as a usufruct, should be created in terms of any of the assets in the estate to the benefit of the surviving spouse. Even with merging of estates the surviving party has the right to accept or reject the mutual will and the resulting merging of estate assets after the death of the first party. It boils down to the fact that, even where merging of estates is determined in the will, the mutual will does not have much value if the surviving party rejects the stipulations of the will after the death of the deceased party.
This entry was posted in Wills & Trusts and tagged Married couples, Mutual Wills, Testator and Testatrix on September 13, 2016 by Toksentjops.	Vruggebruik (usufruct), gebruiksreg (usus) en habitatio: Wat is die verskil?
Die algemene pligte van die vruggebruiker Die vruggebruiker is slegs geregtig op die gebruik en genot van die eiendom; hy verkry nie eiendomsreg nie. Die vruggebruiker mag nie die eiendom uitput of vernietig nie, maar hy is verplig om dit te bewaar. Die eiendom moet gebruik word op die wyse waarvoor dit bedoel is. ‘n Nuwe wyse van gebruik van die eiendom is toelaatbaar mits dit sinvol is onder die omstandighede.
This entry was posted in Wills & Trusts and tagged Eiendom, Serwituut, Vruggebruik on January 19, 2016 by Toksentjops.	Is dit voordelig om ‘n Trust te stig?
Die Trust kan beskryf word as ‘n regsverhouding wat ontstaan waarby die stigter bates onder die beheer van Trustees plaas. Dit gebeur óf in die stigter se leeftyd (inter vivos trust), óf by die stigter se dood (testamentêre trust). Hierdie artikel gaan fokus op die voordele en nadele van die inter vivos trust.
Die voordele van ‘n Trust is eerstens om boedelbelasting te verminder. ‘n Inter vivos trust kan gebruik word om boedelbelasting te verminder. Geen boedelbelasting is betaalbaar op bates wat deur die Trust gehou word nie, aangesien ‘n Trust nie sterf nie. Boedelbelasting is huidiglik belasbaar teen 20% van die bruto waarde van die boedel. Die boedelbelasting besparing kan aansienlik wees vir ‘n persoon met ‘n groot netto waarde, wat miljoene rande werd kan wees. Tweedens kan ‘n Trust gebruik word om beskerming te geniet teen die begunstigdes se krediteure, aangesien die bates nie die eiendom van die begunstigdes is nie en krediteure dus nie ‘n eis teen die bates van die Trust kan instel nie. Hierdie voordeel is veral belangrik vir mense wat blootgestel is aan persoonlike aanspreeklikheid. Maatskappye en persone kan bates na ‘n Trust oordra. Derdens, as gevolg van die feit dat ‘n Trust nooit sterf nie, sal die begunstigdes steeds die voordeel van die trustbate geniet, selfs al sterf een van die Trustees.
Die nadele van ‘n Trust is eerstens die kostes om ‘n Trust te stig en op te rig, wat baie hoog kan wees, selfs soveel as R20 000. As onroerende bates na ‘n Trust oorgedra word, sal hereregte ook betaalbaar wees. Die stigters van die Trust kan ook verantwoordelik wees vir Skenkingsbelasting, wat huidiglik belasbaar is teen 20% van die waarde van die bates oorgedra aan die Trust. Hereregte is belasbaar volgens ‘n glyskaal. Tweedens kan Trustees persoonlik aanspreeklik gehou word vir finansiële verliese wat deur die Trust gely word as daar bevind word dat hulle nie met die nodige sorg, toewyding en vaardigheid opgetree het in terme van Artikel 9 van die Wet op Beheer van Trustgoedere nie. Dit is belangrik om daarop te let dat “vaardigheid” meer vereis as net goeie trou. Trustees se handelinge mag dalk as nalatig beskou word indien hulle hoë-risiko beleggings aangaan, maar ook as hulle beleggings aangaan wat te konserwatief is en wat veroorsaak dat die kapitaal nie teen ‘n goeie rentekoers groei nie. Trustees moet ook bewus wees daarvan dat hulle aanspreeklik gehou kan word, selfs al is daar net een Trustee met tekenmagte, aangesien ‘n swak keuse deur hierdie persoon alle Trustees aanspreeklik vir nalatigheid sal maak.
Die stigter van die Trust moet besef dat die bates in die Trust nie langer aan hom/haar behoort nie, maar aan die Trust. Indien hierdie verlies van beheer (van stigter na Trust) nie plaasvind nie, kan die Trust as ‘n alter ego van die stigter gesien word, wat beteken dat hierdie bates wel in krediteure se eise ingesluit kan word en boedelbelasting gevolglik van toepassing kan wees.
Die verdienste uit bates in die Trust word teen 40% belas, en baie min vrystellings is van toepassing op Trusts. Die huidige koers vir Kapitaalwinsbelasting vir ‘n inter vivos trust is 66.6% terwyl die koers vir individue 33.3% is. Laastens is dit duidelik dat ‘n Trust nie ‘n geskikte keuse vir almal is nie.
Dit is belangrik om die voordele en nadele te oorweeg voordat ‘n besluit gemaak word om ‘n Trust te stig. Die beste besluit sou wees om met ‘n gesertifiseerde finansiële beplanner of prokureur te praat, wat kan help om die regte besluit met betrekking tot die spesifieke situasie te maak.
This entry was posted in Wills & Trusts and tagged Bates, Belasbaar, Voordele on November 9, 2015 by Toksentjops.	Impact of divorce on validity of will
This entry was posted in Marriage, Wills & Trusts and tagged contract, divorce, validy of will on September 14, 2015 by Toksentjops.	Your Will and foreign assets
Each country has its own legislation regarding inheritance and signing of wills. It would therefore be possible that your South African will does not comply with all the requirements of the country where your foreign assets are located.
This may result in the non-inheritance of your foreign assets in terms of your last will and testament.
It is therefore imperative that you should have two wills if you have foreign assets; one for your South African assets and one regarding your foreign assets according to the regulations of the country where these assets are located. It is always important to plan your estate carefully; should you have foreign assets, however, you must take extra care to ensure that you meet all the requirements of the relevant country’s legislation.
This entry was posted in Wills & Trusts and tagged foreign assets, will on April 23, 2015 by Toksentjops.	What happens if I die without a will?
Let us assume that person A dies and the value of his estate is R1.8 million. He is survived by his wife (B) and 2 children, of which one is of age and the other is a minor. Scenario 1:
The inheritance of the minor will be paid to the Master’s Guardian’s Fund, as there is no will which determines that the minor heir’s inheritance should be placed in e.g. a Testamentary Trust, where the funds will be administrated on behalf of the minor until he/she becomes of age or reaches any other specified age. Scenario 2:
The spouse inherits R1.2 million and the children R300 000 each. The inheritance of the minor will be paid to the Master’s Guardian’s Fund, as there is no will which determines that the minor heir’s inheritance should be placed in e.g. a Testamentary Trust, where the funds will be administrated on behalf of the minor until he/she becomes of age or reaches any other specified age. It is therefore clear that Intestate inheritance may result in an unpractical and often even impracticable division of assets.
This entry was posted in Wills & Trusts on January 19, 2015 by Toksentjops.	What happens to my bank accounts when I die?
This entry was posted in Wills & Trusts and tagged Banking; Bank account on September 20, 2014 by Toksentjops.	Post navigation