Estates
Estate planning involves determining how an individual’s assets will be preserved, managed, and distributed after death.
The objective is to ensure that loved ones are taken care of as per a person’s specific wishes. “Estate planning is also about structuring assets and finances in a way that ensures sufficient liquidity in the estate.
Wills and Estates
Drafters might believe that if the Estate is small, the division is uncomplicated, and the language is straightforward. Although a self-made Will may satisfy the criteria of a legal Will, you must also have knowledge of Common Law, statutes, tax consequences, and the financial effect on your heirs. For instance, not excluding security for the Executor can result in extra expenses for the Estate.
Selecting a trustworthy executor.
Petra Pretorius Family Law Attorney will handle the intricate legal obstacles of a deceased estate as administrator for your family while keeping our clients’ needs in mind. It also enables you to control your finances and possessions amid this challenging time.
In cases where the Estate contains assets beyond cash, Executors often need professional assistance, which our service provides. We offer the necessary support and guidance, along with the essential professional certification and property transfers for the estate.
The Master’s offices insist that for any estate over the value of R 250 000-00 that an Attorney be engaged to assist the family in the winding up of the estate.
It Helps to Plan
Failure to plan your Estate can result in families losing their residence, or lead to substantial disputes or upheaval.
- Take into account the liabilities associated with assets.
- If there are young children involved, without a trust, the Government (Guardians Fund) will hold any money or movable assets.
- How will the management of multiple asset revenue streams shared by children be handled administratively?
- How do you ensure children have equal opportunities throughout their lifetime?
Deceased Estates
Estates of the departed – Anticipate top-notch service from our team! When someone passes away and leaves behind property or a will, it creates an estate after their death. In the absence of a valid will, the estate will be managed and divided according to the Intestate Succession Act (Act 81 of 1987).
How can we assist?
How should you react when a family member dies? If you are unsure, reach out to us for help in managing the estate and ensuring that your loved one’s wishes are followed.
