[POLL] Do you have a will in place should something happen to you? What should be included and excluded in your will:
While there is no set form or template that must be adhered to when drafting your will, there is a generally accepted framework which can be used as a guideline for ensuring that all relevant and requisite information is included in this all-important document.
Where a couple is married, it often makes estate planning sense to bequeath their respective estates to each other in the event of the death of the first-dying spouse – and such scenarios should be supported by a documented estate plan so that you can fully understand the effects of the various scenarios and plan accordingly, including the eventuality of simultaneous death.
If you intend to nominate a fiduciary company or law firm, keep in mind that you are able to negotiate a more favourable executor’s fee which can be recorded in your will. As it currently stands, legislation permits an executor to charge an amount of 3.5%, excluding VAT, on the gross value of assets in an estate, plus an amount of 6% on any income collected after the death of the deceased.
‘I bequeath my interest in the immovable property known as Valley View, situated at 135 Constantia Avenue, Cape Town, Erf No 928, or such other interest in immoveable property that constitutes my family home at the time of my death to my daughter, [NAME, SURNAME, ID NO…]…’ ‘In the event of any child of ours being a minor at the time of the death of the last dying of us or the last dying not making an alternative appointment, we direct that upon the death of the last dying of us any rights of custody or guardianship which either of us may have exercised prior to our death over such child shall pass on to GLADYS KNOMO who shall not be required to furnish security for the fulfilment of such duties in terms of this appointment.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EDITORIAL | Lady Justice, give SA the happy ending it deservesThe accusation against Ramaphosa’s ally comes as the number one is under public scrutiny for serious allegations.
Read more »
EDITORIAL | Lady Justice, give SA the happy ending it deservesThe accusation against Ramaphosa’s ally comes as the number one is under public scrutiny for serious allegations.
Read more »
'She's so rude': SA upset by DJ Zinhle's approach to negative customer reviewsDJ Zinhle has come under fire following a bad review of her business, Hair Majesty. This comes after a customer went online to criticise one of her products.
Read more »
5 vegan restaurants serving mouth-watering breakfasts in Cape TownWhen it comes to vegan and vegetarian dining, the Mother City has quickly become full of places to grab a healthy plant-based bite to eat thanks to the major traction plant-based eating has gained over the past few years.
Read more »
South Korea offering large-scale aid package for North's nukesThe proposal comes days after the North threatened to 'wipe out' Seoul authorities over a recent Covid-19 outbreak and less than a month after leader Kim Jong Un said his country was 'ready to mobilise' its nuclear capability in any war with the United States and the South.
Read more »
CHRIS ROPER: First they came for the foreigners …SA is a standout — in Africa at least — when it comes to the protection of LGBTQ+ rights. But as politics takes a harder turn to populism, will this become the next divisive weapon? Asks ChrisRoper
Read more »