Dealing with marriage and estate planning
The most important forms of marriage are: marriage in community of property, marriage out of community of property (without accrual), and marriage out of community of property (with accrual). Marriage in community of property There is no prior contractual arrangement, apart from getting married; Spouses do not have two distinct estates; There is a joint […]
Inter-Vivos Trusts and Testamentary Trusts
Much ignorance exists regarding the use of trusts during bequests. This article will endeavour to shed some light on this important issue. An Inter-Vivos Trust is also known as a living or family trust as it is set up during your lifetime. A trust is the ideal long term structure with which to protect assets […]
Usufruct, Usus and Habitatio: What is the difference?
Usufruct, usus and habitatio are personal servitudes. These servitudes are sometimes considered as an estate planning tool to reduce estate duty, but testators don’t always realise what this entails and the burden it could place on the heirs. What is a personal servitude? A personal servitude is always constituted in favour of a particular individual on whom it […]
Should I draft a will?
A mother who has always wanted her daughter to inherit her diamond engagement ring may never get her wish if she dies without leaving a valid written will. The mother’s estate would then be distributed in terms of the Intestate Succession Act No. 81 of 1987. Taking the time to draft a will can leave […]