|Drafting of Wills
A Will or Testament is a legal document in which you (the testator) express your wishes as to the distribution of your assets after your death. This document will also include instructions as to who will act as guardian of your minor children and who will be appointed as the Executor of your estate, The Executor is the person who must ensure that your wishes are carried out as per your Will and manage the distribution of your estate accordingly.
The formulation of your Will must not only comply with the provisions of current legislation, but more importantly it has to reflect your unique circumstances & requirements. A Will or Testament does not fit into the "one-size-fits-all" category and has to be thought through and discussed with people that understand your specific needs and circumstances. More importantly it must be drafted by people that has the required expert legal knowledge to ensure that it comply with the provisions of the current legislation and that the contents are enforceable.
Talk to us and we will guide you through this daunting process effortlessly.
Administration of deceased Estates
The Administration of a Deceased Estate is the process of distributing the deceased's assets in accordance with his or her wishes as expressed in his or her Last Will or Testament. This distribution would include the paying of any liabilities (debt) owed by the deceased to any creditors during his or her lifetime. The Executor, as nominated in the Will or Testament, will ensure that the process followed will comply and adhere with the prescribed requirements as set out in the Administration of Estates Act 66 of 1965.
This process can be complex and it is for this reason that the Master of the High Court requires all deceased estates which exceeds R250 000.00 in gross value to be administered by either an attorney or an executors company such as Infinity Executors Services only.
A Trust is an arrangement under which assets are set aside by an individual (founder) and administered by a Trustee(s) for the benefit of another person known as a beneficiary(ies). The purpose of a Trust is to protect your assets or to protect the inheritance of a beneficiary nominated in your will.
The definition of a trust in terms of the Trust Property Control Act 66 provides for two categories of Trusts, an Inter-vivos Trust (a Trust that is created during your life time) and a Will Trust (created in your Will). The creation of a trust is part of your estate planning and is a specialized service. It therefore requires specific skills, experience and strict adherence to the provisions of the Administration of Deceased Estates Act 66 of 1965 by the Master of The High Court.
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