It’s not an easy conversation, but death happens to us all.
Life is busy but your will is one of the most important documents you'll ever draft and all we need is an hour of your time.
Your will is important, so is planning for the costs of dying. Here's why:
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Meet Mark.
Mark is one of only 30% of South Africans who got his will in place in order to protect his family if he’s no longer around.
However...
Mark never thought about the fees his executor & trustees will charge, leaving his estate and beneficiaries with much less than he hoped for.
The Solution!
For as little as R 135 per month, our Legacy Protection Plan™
solves this and many other problems, should you pass away.
Don't be like Mark and leave problems when you want to leave a legacy!
Why do your will with Capital Legacy?
Because whichever way you look at it, we have the solution all under one roof
The Will
With access to a specialist consultant, free collection and safe-keeping, and unlimited amendments at no cost, our services provide an easy and stress-free way to secure your will.
Your Beneficiaries
Our services offer the option to create a trust for your loved ones, especially those with disabilities, and provide a personal estate consultant to guide you through the process.
Your Estate
Our services provide the flexibility of choosing any executor, the assurance of established in-house professionals administering the process, and the option of covering costs up to 100% upfront.
Your Trusts
We will take care of all the trusts required by your will to ensure your beneficiaries are protected and get the most of their inheritance.
Did you know…
Capital Legacy was the first to bring out an insurance policy integrated with your will that pays for the fees and costs when you pass away. It's called the Legacy Protection Plan™ and has revolutionised the industry, helping more than 300 000 South Africans since we launched in 2012.
Calculate your cost of dying
No hidden agendas with us... There are costs but NOT for the will itself, rather the executor & trustee fees should you choose to appoint us. We have a solution for these fees but first, let's quickly help you estimate these.
How much is your estate worth?
What is the value of your properties?
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We recommend our LPP™
to cover your fees and costs of
from only
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Tap here for more information
Why do I need the Legacy Protection Plan™?
This policy is the most cost effective way to provide funding to cover your estate legal costs. It can also prevent massive delays in administering your estate, saving your family trauma and at worst financial ruin.
Affordable premiums for any age, with BIG benefits
Has no cease-age and covers you for your entire life
Includes cash benefits to plug gaps that your other policies cannot
For as little as R 105.87 pm
Integrated benefits
With the Legacy Protection Plan™
Immediate Liquidity™
When you pass away, your family could have limited access to money. Ensure there is money available to cater for things such as funeral expenses, travel arrangements, groceries and other immediate expenses. This benefit pays within 48 hours giving rapid relief to your loved ones.
Estate Overheads Protector™
Estates take time to wrap up and there are costs that can become an additional burden to your family. This benefit is available in cash to the executor of the Estate, to help them pay for the costs relating to the Estate, such as Master's fees, correspondence fees, property clearance and advertising costs.
Estate Gap Cover™
If both you and your spouse should pass away, it can be a financial shock to your beneficiaries. It’s often too expensive to cover the costs associated with both spouses passing away simultaneously. Through this benefit, you can provide for inheritance taxes and other additional legal costs as well as the loss of monthly income.
Frequently asked questions
Does a deceased estate need to lodge a tax return?
Yes. The executor of the estate is responsible for lodging the tax returns for both the deceased individual, as at the time of their death, and for the estate, from date of death to when the estate is finalised. The executor of the estate has an obligation to make sure that all tax returns of the deceased are up to date with the South African Revenue Services (SARS). NB: If the deceased was a pensioner at the time of death or even a few years prior to date of death, the tax returns have to still be completed and submitted to SARS in order for SARS to advise the executor that the taxes are in order and will provide the executor with a Tax Compliance Certificate for the estate (TCC).
How do I claim from a deceased estate?
A claim against a deceased estate refers to a creditor laying a claim for outstanding debt against the deceased estate. According to South African regulation a creditor has two opportunities to lodge their claim. The executor will place ads in the Government Gazette and the local newspaper of the deceased’s residential address. These ads are placed at the date of death and when the L&D is ready for inspection (by anyone) in the Master of the High Court’s office. The L&D will be available for inspection for 21 days.
Can a non-Muslim relative inherit? For example, a non-Muslim wife?
No, but they can be allocated a bequest in an Islamic will, provided that the sum of all bequests does not exceed one-third of the estate. Alternatively, they can be nominated as beneficiaries of the MyCover™ extender on the Tazkiya™ Family Takaful.
What happens if a person dies without a will in South Africa?
Estate planning is a crucial part of your financial journey, and at the heart of this lies the last will and testament. But what happens if a person dies without a will in South Africa? Without a will – or even with an invalid or outdated will – the law of intestate succession will apply, according to the Intestate Succession Act 81 of 1987. This means your estate will be divided according to a set formula and based on which relatives are alive at the time of your passing. If you die without a will and have no one to inherit in terms of the Act, the money in the deceased estate will be placed in the Government Guardians’ Fund. If no heirs come forward to claim the money within 30 years, the funds will be forfeited to the state.Additionally, with no will, there would have been no appointment of an executor. The intestate heirs may nominate a person to be appointed as the executor, however, the final decision still lies with the Master of the High Court.And what about your children? One of the major consequences of dying without a will concerns guardianship. Your wishes might not be considered and the children might be placed in the care of someone you didn’t intend them to be placed with.Even the children’s inheritance will be at risk. You might have wanted to place the children’s inheritances into a trust, for example, to only be paid out when they reach the age of 25 years. However, without a will the inheritance will be paid out to the Government Guardian’s Fund and could take years to eventually pay out to the children.Other than weaving a web of inheritance pitfalls, there are many more consequences of dying without a will. The importance of having a valid and updated will cannot be overestimated. Here’s why: Avoid family disputes: A well-drafted will can prevent family infighting and ensure that each beneficiary knows precisely what they will inherit. Efficient estate administration: Nominating an executor in your will streamlines the estate administration process and ensures that someone you trust manages your affairs upon your passing. To further highlight the importance of having a will, consider the peace of mind you will have and how it will serve as a vital legacy for your loved ones, sparing them unnecessary worry and financial hardships in the future.At Capital Legacy, we offer complimentary will-drafting consultations to help you create a comprehensive will tailored to your unique circumstances. Speak to your financial advisor or contact us to secure your legacy.
Who must be covered in a last will and testament?
The importance of having a valid will in place cannot be overstated. A carefully crafted will allows you to secure your family’s future, protect your assets and wishes, and plan for the unexpected. However, understanding who must be covered in a will involves careful consideration of legal requirements and familial relationships.When drafting your will, it’s essential to be specific about who you want to bequeath your assets to. Failing to be specific can lead to confusion and legal battles.For example, if you simply state that you want your assets to be distributed among your children, this could cause problems if you have stepchildren. Similarly, if you have specific wishes for how your assets should be distributed, such as a charity you want to support, you need to be clear about this in your will.So, who exactly must be covered in a will?Immediate family membersIt is important to secure your family’s future when setting up your will. The primary beneficiaries, therefore, are typically immediate family members, including spouses, kids, and parents. Specifying the spouse’s share in the will can prevent future disputes. Kids are crucial beneficiaries who must be covered in a will. It’s important to note that you may not disinherit minor kids. Their well-being is always put first as far as last wills and testaments are concerned. Parents may also be included if they are financially dependent on you.Extended family membersExtended family members, such as siblings, grandparents and cousins, can be included in a will if you wish to allocate assets to them. It is essential to explicitly state their inclusion and the detailed distribution to protect your assets and to avoid infighting among relatives.Guardianship of minor childrenOne of the most important people who must be covered in a will is the guardian of minor kids. This nomination ensures that your wishes regarding the care and upbringing of your kids are honoured upon your passing. If you have minors, you will need to carefully consider who will be responsible for caring for them and their assets if you pass away.Charitable organisationsLeaving a portion of your estate to charitable organisations or causes can be a fulfilling way to leave a positive impact beyond your lifetime. Many people choose to support charities or community initiatives through their wills, aligning their legacy with their humanitarian ideals.Executor and trusteesOne crucial aspect of setting up a will is appointing an executor and trustees to protect your assets and carry out your wishes efficiently. The executor oversees the administration of the estate, while trustees may be assigned to manage trusts created for beneficiaries.Alternate beneficiariesTo plan for the unexpected, it’s vital to name alternate beneficiaries in your will. If a primary beneficiary predeceases the testator or is unable to inherit, the alternate beneficiary will assume that role.Knowing who must be covered in a will involves carefully considering all aspects of your life and relationships. As the wills people, it makes sense for Capital Legacy to draft your last will and testament and be your executor.For more information or to arrange your complimentary will consultation, speak to your financial advisor or contact Capital Legacy.
Can bequests be used for missed religious liability?
Religious obligations should be performed while alive but if, and when, they have not been performed at the time of death, this can be provided for in the will.
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Don't take our word for it though...