What is the cost of my estate duty?

In terms of the stipulations of section 4 of the Estate Duty Act No 45 of 1955 certain deductions from the value of an estate are allowed in order to determine the final value of the estate which will be subject to estate duty.The following two rebates are the most well-known: Section 4(q) – This […]

Using a trust for estate duty purposes

Trusts are popular mechanisms through which individuals often structure their affairs to ensure efficient administration of their estates when they should one day die.  One of the many advantages of using a trust is of course that it continues to ‘live on’ despite the fact that any one individual may have died.  This in itself […]

Implications of estate duty

Estate duty is charged on the dutiable value of the estate in terms of the Estate Duty Act. The general rule is that if the taxpayer is ordinarily resident in South Africa at the time of death, all of his/her assets (including deemed property), wherever they are situated, will be included in the gross value […]

Have you ever done your estate planning?

If you have never planned your estate, perhaps now is a good time to consider it. This will be to everyone’s benefit, as there are often hidden costs which come into effect at the time of passing, that are not taken into account when you plan your estate and inheritance. These expenses include the following: […]

So what is the future of Trusts?

One of the questions that we are most confronted with by our clients is what the future of trusts are in South Africa. Some questions even point to the misconception that the trust instrument itself as legal form is on the verge of being scrapped in South Africa altogether! The current debate raging is not […]