Estate Planning and a properly drafted will can ensure that you minimise Estate Duty and that your belongings are properly divided among your chosen beneficiaries.

Estate Duty is levied by SARS on the worldwide assets of all SA tax residents.  So, if you are a tax resident of SA at the time of your death, then all your worldwide assets will be levied for Estate Duty by SARS, at either 20% (for estates up to R30 million) or 25% (for estates in excess of R30 million).  This makes proper Estate Planning all the more important to not only ensure that you minimise Estate Duty, but also that there will be enough money in your estate to pay SARS without having to liquidate any of your assets.

A properly drafted will also gives you the opportunity to name guardians for your minor children and to set up trusts for them to manage their inheritance until they are old enough to do it themselves.  

Come and talk to Ryk Neethling at our new Val de Vie office about Estate Planning and the Drafting of your Will.