It’s not an easy conversation, but death happens to us all.

Is a handwritten will legal in South Africa?

Yes, a handwritten will is legal in South Africa. However, there are a few requirements that need to be met.The person drafting thewWill:has to be sixteen (16) years or older;may be the testator/testatrix;may not be anyone who has been specified in the will (i.e. the executor, trustee, heir or legatee[s]) or their spouses.The will should be legible and free of any errors.The will should be signed by the testator/testatrix and two independent witnesses. We recommend that you contact one of our Testamentary Consultants who can advise on aspects of your will that you might not have known to consider.

Why should I have an Islamic will?

A will conveys your wishes, in a legally binding way, on how you want your estate to be divided. The most fundamental benefit of having an Islamic will is that your estate is administered in terms of Shari’ah. While your estate will be administered according to Islamic law, thus providing for your Islamic heirs and religious liabilities, you still have the freedom to appoint an executor of your choice to attend to this administration process.

How do I get nominated as executor of an estate?

There are 2 ways for this to be done:The deceased would nominate you in their last will and testatment as the executor of his/her estate.Should the deceased individual not have had a last will and testament or does not name an executor in their will, the nominated beneficiaries would have to nominate you as the executor.

What happens to my house if I die without a will?

Regardless of whether you have a will or not, your estate will still need to be administered upon your passing away and therefore will be in the control of an executor. However, when you pass away without having drawn up a valid will, your assets will be distributed to your heirs based on the Intestate Succession Act no 81 of 1987. Therefore, if your house is portioned into a few inheritances then the executor of your estate has the authority to sell it and distribute the proceeds to the various heirs or he/she may sell it in order to cover the taxes and fees due, should there be little liquidity in your estate. However, your descendants may decide amongst themselves how to distribute their joint inheritance. If they decide to co-own the house, the house will be transferred into all their names.

Can you have joint executors of a will?

What are the benefits of a trust?

Trusts are a powerful and versatile way to safeguard your assets and ensure the seamless distribution of wealth according to your wishes. There are different types of trust options available, each with its own benefits. From living trusts that offer the opportunity for asset management during your lifetime to testamentary trusts that come into effect upon your passing, understanding the different types of trusts is essential to optimising your estate planning and providing for your loved ones.Asset protection and managementProtecting and managing your assets through trusts offers significant benefits if you want to secure your wealth and minimise estate tax liabilities. One major benefit is that you can keep the value of your assets in your personal estate steady while still letting them grow.Tax planning and reductionTrusts provide opportunities for estate duty reduction. In South Africa, assets held in a trust are not considered part of the deceased individual’s estate, potentially reducing the estate duty liability. Through careful estate planning, individuals can ensure that their assets are transferred to beneficiaries while minimising tax implications. Certain types of trusts qualify for specific tax benefits, deductions, or exemptions.For example, one of the advantages of a testamentary trusts is that it can be structured to optimise tax planning. These trusts have their own tax rates, which can be advantageous for income distribution among beneficiaries.Protecting beneficiaries with special needsTrusts play a crucial role in protecting beneficiaries with special needs. If you have a child or dependant who is unable to manage their financial affairs due to a disability, you can establish a Special Trust Type A. This type of trust is designed for parents who want to ensure the care and financial well-being of their special needs child upon the parent’s passing.Note that a Special Trust Type A should be registered exclusively for the welfare of a beneficiary who has a permanent mental or physical disability.One way to protect the inheritance of a dependant with special needs is with a provider’s trust. This trust holds all the assets in your estate and allocates them to care for your special needs dependant. Appointing professional trustees or trusted individuals ensures proper management and adherence to your wishes.When establishing a special trust, it is essential to consider the fees associated with trusteeship. Some institutions charge upfront fees, but Capital Legacy, for example, offers a more affordable option with an annual fee of 0.75% on the capital.Control over inheritance distributionBy having a valid will in place, individuals can designate specific beneficiaries, determine the assets they will receive, and impose conditions or requirements for inheritance. However, trusts offer even greater control and flexibility, where individuals can dictate when and how assets should be distributed to beneficiaries. Trustees can be appointed to manage and distribute assets according to the testator’s instructions, ensuring that the distribution aligns with their intentions.Contact Capital Legacy today to receive expert advice on the all the advantages a trust, and which type would best suit your needs.