Services
What we offer
Our services include setting up a proper Estate Plan,
preparing your Last Will and Testament and ultimately
ensuring peace of mind for you and your family!
Please see below a list of our Services:
We are qualified to assist you in the proper set-up and planning of your personal Estate whilst you are still alive.
SOME OF THE BENEFITS OF PROPER ESTATE PLANNING ARE :
• Minimising the payment of the 20% Estate Duty.
• Planning for sufficient cash to be available in the Estate at death to cover all incidental costs and taxes.
• Testing of the liquidity of the Estate to avoid the sale of Fixed Assets in order to finalise the Estate.
• Setup of an intervivos Trust
• Setup of a proper Last Will and Testament
• Moving high-growth Assets into a Trust.
We can assist you in drawing up a Last Will and Testament to ensure that your wishes are fulfilled in the event of your death.
BENEFITS OF HAVING A PROPER WILL PREPARED AND IN PLACE BEFORE DEATH
• You name your own heirs.
• You decide what should happen to your assets after your death.
• Chance of setting up a Trust to take care of minor / handicapped children.
• Avoid unhappiness between family members after death.
• Ensure that certain assets are retained in the family.
• Allocations of donations to charitable organisations of your choice.
• Appointment of a professional Executor.
• Communication, while you are alive, of your wishes regarding life support and your bodily remains after death.
Please complete our generic questionnaire on the following link should you wish us to review your personal circumstances prior to arranging a free consultation.
We can act as Executors of a deceased Estate and are properly qualified therein.
BENEFITS OF APPOINTING US AS THE EXECUTORS OF YOUR ESTATE AND AS TRUSTEES OF ANY TRUSTS FORMED IN TERMS OF YOUR WILL :
• We know you and your family.
• We do not have to act strictly according to the Act and can be less stringent on intermediary payments to the heirs.
• We know your business and as Executor can value it and if need be, sell it.
• We can take proper care of all your outstanding Tax Returns.
• We will ensure that your Estate is wound up in the shortest possible time.
• We can register any Trusts set-up in terms of your Will.
• We can act as professional Trustees in any Trusts set-up in terms of your Will.
Trusts as a Planning Tool
Trusts can play an important role in modern day business planning, but care needs to be taken when setting up a Trust – especially now that SARS are starting to pay more attention to Trusts.
We can assist you with the following :
• Consultation on the working of a Trust and on the Legal requirements thereof.
• Preparation of a Trust Deed
• Registration of the Trust Deed at the Master of the Supreme Court
• Acting as a Professional Trustee
• Ensuring that the Trust’s books are kept up to date in terms of the Trust Deed and Tax Act
• Ensuring that all the legal requirements are met by holding timeous Trustees meetings and by ensuring that the Trust Deed stipulations are being followed to the letter.
In essence a Trust is a contract between the donor, the Trustees and the beneficiaries whereby the donor appoints the Trustees to look after the Trust assets for the benefit of the beneficiaries.
The tax implication with regards to Trusts is that the donor, Trust or beneficiaries can be taxed depending on how the Trust Deed was drafted.
Worst case scenario is that the Trust income is taxed within the Trust at a rate of 45%.
The proper initial setup and planning of a Trust Deed is of extreme importance to avoid issues at a later stage.
Herewith some benefits of a properly registered Trust :
• Can save substantial Estate Duties on death.
• Can secure assets against creditors in the case of a business failure.
• Ideal for growth assets
• A tool to look after minor / handicapped children after death.
We can assist you with the following administrative duties :
• Appointment as a professional Trustee.
• Ensuring that the Trustees adhere to the Trust Deed.
• Audit of / preparation of the Annual Financial Statements for the Trust.
• Calling and co-ordinating the compulsory Trustees’ meeting annually.
• Assisting with tax planning in the distribution of capital / income to the Beneficiaries.
• Completion and submission of Annual Tax Returns.
