Breaking news: the value of “section 18(3) estates” increased to R250 000 with effect from today

Breaking news: the value of “section 18(3) estates” increased to R250 000 with effect from today

All deceased estates need to be reported to the Master of the High Court before the administration thereof can begin. Up until now, the Master of the High Court would issue Letters of Authority to the “Executor” of the estate, if the total value thereof was less than R125 000. The administration process thereafter is lessRead the full article

The Administration Process of a Trust

The Administration Process of a Trust

Introduction Now that the Family Trust has been registered and the Letters of Authority been issued by the Master of the High Court, you need to start the administration process of the trust. The Trustees now have the authority to act on behalf of the trust: – Open a banking account – Register as aRead the full article

How Lifetime Trusts work for your Family

How Lifetime Trusts work for your Family

In choosing to create trusts, many people overlook the value in creating a lifetime trust. Most would think it exorbitant or unnecessary to pay out a trust for such an extended period of time, but the reality is that it is one of the most secure ways of ensuring your family’s financial security in theRead the full article

Trusts and examples of trusts: what they are and how they work

Trusts and examples of trusts: what they are and how they work

For advice on Trusts and Fiduciary services, click here. What are Trusts? A trust is a legal relationship between people, dictating the distribution of assets between them. Trusts are most commonly used to separate assets from your Estate, offering them protection from creditors and stipulating how they are administered. Since Trusts are a separate legal entity fromRead the full article

Trust and Fiduciary Services: creating your Trust for asset protection

Trust and Fiduciary Services: creating your Trust for asset protection

Many people fear the possibilities involved in creating and growing their wealth and how it will be distributed following their death. These possibilities can include: Creditors ceasing your assets Your family becoming bankrupt Your heirs spending their inheritance unwisely Luckily, within Trust and Fiduciary services, you will be able to create a Trust for assetRead the full article

Trust and Fiduciary Services: ever wanted to know happens to your Estate if you don’t leave a Will?

Trust and Fiduciary Services: ever wanted to know happens to your Estate if you don’t leave a Will?

Many South African’s remain ignorant of the possible ramifications of not drafting a final Will and Testament. Not drafting a Will, in the proper legal manner, can result in: The government allocating your Estate to the parties it stipulates to be most fitting, irrespective of your intentions Familial disputes over who gets what According toRead the full article

What are Trust and Fiduciary Services?

What are Trust and Fiduciary Services?

Trust and Fiduciary Services have a variety of different applications. Creating plans and implementing them to safeguard your assets, secure finances for your loved ones and avoid unnecessary expenses all form part of Trust and Fiduciary Services. What are trust and fiduciary services? Trust and Fiduciary services are those related to personal assets with aRead the full article

All you need to know about Trusts for Life insurance. Get yours now!

All you need to know about Trusts for Life insurance. Get yours now!

Setting up Trusts for Life Insurance gives you greater freedom and control over your Life Insurance payouts. Whether to protect your Life Insurance policy from creditors and tax, or to control the way your beneficiaries spend their inheritance, an Irrevocable Life Insurance Trust is the best way to take control over your legacy. Benefits of TrustsRead the full article

Death and Taxes: Ever heard of Estate Duty?

Death and Taxes: Ever heard of Estate Duty?

Benjamin Franklin once said there are only two things certain in life: death and taxes. Coming to terms with death and the afterlife should be left to metaphysics and theology. Coming to terms with the Tax you have to pay when you die is an entirely more straightforward endeavour. Throughout your life you will gatherRead the full article

Filed Under: Tax

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Talisman Wonderboom

Lynne Derksen and Suzette Kroon

The continuation of a business upon death of a co-owner, and the unlocking of the full value thereof for the remaining heirs, should be based on comprehensive planning. Ian made us understand this.

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Crest Trust Services (PTY) Ltd. is an Authorized Financial Service Provider with FSB No: 28966