Ensuring your loved ones are taken care of

Wills, Trusts and Estates

Wills, trusts and estates are legal terms that refer to the transfer of assets and property after a person dies.

Wills

Trusts

Estates

wills

A will is a legal document that specifies how a person’s assets will be distributed after their death. It allows the individual to name an executor, who is responsible for managing the estate and ensuring that the terms of the will are carried out. A will can also be used to name guardians for minor children and specify other wishes, such as funeral arrangements.

We have a specialist attorney that deals with estates on a day-to-day basis so we’re well positioned to ensure that your will meets the necessary requirements to be legally valid and ensure those most important to you will receive their inheritance with the minimum of fuss. 

trusts

A trust is a legal arrangement where a person (the “founder or settlor”) transfers property to another person (the “trustee”) to manage for the benefit of one or more third parties (the “beneficiaries”). 

The terms of the trust are specified in a legal document called a trust instrument which will specify the powers that the trustees have in order to manage the property given to trustees by the founder. 

We can assist with the drafting of a trust instrument that will suit your needs such as to provide for minor children, protect assets from creditors, or assist in estate planning.

Estates

An estates refer to the assets and liabilities of a person after their death. The process of administering an estate involves identifying and valuing the assets, paying any outstanding debts and taxes, and distributing the remaining assets to the beneficiaries named in the will, or, according to the law of intestate succession if there is no will.

In South Africa, an estate must be reported to the Master of the High Court and many requirements laid down by law must be followed. 

These requirements will include the advertising of the estate in the Government Gazette and a local newspaper and the drafting of a legal document (“Liquidation and Distribution Account”) summarising the financial position of the estate. The administration of an estate can take around 12-18 months from start to finish. 

We can assist with the reporting of the estate to the Master and ensuring that all the legal processes required by law are met.