WILLS & ESTATES - The Law Desk of Fawzia Khan & Associates
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WILLS & ESTATES
Have you updated your Will recently?If there has been major changes in your life such as a divorce, death of a loved one, or marriage, you should ensure that your will accurately reflects your changed circumstances. Failure to do so could result in people whom you do not want to include as heirs or beneficiaries, benefiting from your will.
If you die without leaving a will, or worse if the will is rejected because it doesn't strictly comply the legal requirements, your estate will automatically be dealt with according to the Intestate Succession Act. Again this could mean people inheriting from your estate that you would not want them to.
According to The Wills Act, any bequest to your divorced spouse will be deemed revoked if you die within three months of the divorce, except where you expressly state to the contrary. This is to allow a divorced person a period of three months to amend his/her will, after divorce.
However if you have not amended your will within that time, your divorced spouse will benefit as indicated in the will. An illegitimate child can inherit from both blood relations. An adopted child will be deemed to be a descendant of his adoptive parents and not natural parents.
For a will to be valid it must be in writing. The signature of the testator must appear at the end of the will and be made in the presence of two or more competent witnesses. The witnesses must attest and sign the will in the presence of the testator and of each other.
Having a properly drawn and signed Will is crucial to prevent rejections by the Master of the High Court. Call us now to find how easy it is to have your will drawn or updated by us.
We also administer deceased estates thoroughly and expeditiously. Call us to discuss.
We offer advice on Inter Vivos Trusts as well as Testamentary Trusts.
A Trust is premised on the idea that certain property is retained and managed by a trustee, in a fiduciary capacity, not for the personal benefit of the trustee but in favour of certain named beneficiaries.A Trust is a well established legal concept in South African law. Creating a Family or Commercial Trust is often an effective way to create another legal entity thereby reducing personal liability.
Our law has acknowledged the Trust as a legal persona in many of our prevailing legislation, including The Insolvency Act 24 of 1936, The Development of Trust and Land Act, 18 of 1936, The Trust Property Control Act 57 of 1988, The Companies Act 61 of 1973, & The Administration of Estates Act 66 of 1965.?Some of the benefits of registering a Trust is that estate assets are protected. The Trust also offers huge benefits to an Estate.
A Trust is an excellent vehicle for Estate Planning. A Trust may also be used for business purposes. ?One can create a Trust in a will (known as Mortis Causa) or an Inter Vivos Trust can be created by the founder contracting with the Trustee.
We are able to register both Family and Commercial Trusts at the Master Office.