Deceased Estate Administration Services

Everything owned by a person who has passed on (deceased) is known as their estate. An estate consists of ‘buckets’ of assets and liabilities. The personal estate comprises assets and liabilities registered in the deceased’s name (both local and offshore), which can be disposed of, in terms of the will, at the date of death. Included in this segment are the implications of how the marital regime might affect the extent of the deceased’s ability to dispose of assets under the will.

An executor’s function incorporates many different legal, accounting, taxation, financial planning, process management, and even behavioural psychology business functions, and fundamentally requires the executor to act ethically, with integrity, and be dedicated to the job at hand: administering the deceased estate.

We work with experts in deceased estate administration and offer a bespoke service to all our clients. We ensure seamless and end-to-end administration.

Trust Administration Services

Inter Vivos & Testamentary Trusts

Trusts come in different guises, but all have four key components:

  • the Property, comprising the property and assets held in the trust.
  • the Founder, which is the creator of the Trust.
  • the Beneficiaries, those who benefit from the trust property.
  • the Trustees, those who manage the trust property on behalf of the beneficiaries.

Testamentary Trusts arise from a will and are set up to allow trustees to manage the family’s money and property in the longer term or while the beneficiaries are too young to manage these for themselves.

An Inter Vivos Trust is set up during the founder’s lifetime, to use as a tax-planning tool, or to set aside funds for specific people or purposes.

Our team are experts in trustee and trust administration services. We offer a bespoke service to all our clients.

Medical Negligence & Road Accident Trusts

When someone has received substantial compensation emanating from a personal injury claim, a Medical Negligence or Road Accident Trust may be the best way to protect this benefit. This type of trust is also known as a compensation protection trust or special needs trust.

In many cases, such a trust will be used for the protection and benefit of someone who has been seriously injured in an accident, such as a road accident or an accident at work, where the nature of their injuries means they are unlikely to be able to work again.

Our team can assist with the registration and administration of any of these trusts.

Trust Deed Drafting:

A Trust deed is the founding document of the trust, which lays out the objective of the trust, instructions on how this objective should be achieved, key information about the founder, trustees and beneficiaries, and the powers and duties of the trustees and beneficiaries.

Estate Planning Services

Estate planning is an important step to take during your lifetime so that you, your family, and other beneficiaries may enjoy, and continue to enjoy, the maximum from your estate and your assets during your lifetime and after your death.

Benefits of Estate Planning are as follows:

  • Financial flexibility;
  • Minimisation of all taxes;
  • Provision of liquidity;
  • Protection against insolvency and inflation;
  • Facilitation of estate administration;
  • Protection of assets in the case of marriages in community of property; and
  • Privacy

Deceased Estate and Trust Tax Compliance Services

It is important to bear in mind that SARS has first claim to what is rightfully owing to them. The executor, who will effectively step into the deceased’s shoes, is responsible for submitting tax returns to SARS, and to make sure that all tax returns are up-to-date – including any tax years that are outstanding (which can often lead to delays in winding up the estate). In such circumstances, the executor will have to request tax certificates and IRP5s from applicable institutions and submit them to SARS.

When someone dies, their estate will normally have to pay any tax due before any money is distributed to their heirs. The deceased could have paid too little or even too much income tax. As a result, the deceased’s estate might owe tax to the government, or it could be owed a tax refund.

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