Wills, Trusts and Estates – Page 8 – Van Velden

Wie behoort ek as trustees van my minderjarige kinders se trust te benoem?

Die trustees is die persone wat die trust bates moet bestuur en belê en tot voordeel van die begunstigdes in die trustaktes aangewys moet aanwend. Dit is uiteraard belangrik om iemand te kies wat vertrou kan word. Kundigheid met betrekking tot bate bestuur is ’n voordeel, maar nie noodsaaklik nie aangesien die trustees nog steeds […]

Wie behoort ek as eksekuteur van my boedel te benoem?

Een opsie is om ‘n familielid soos die langslewende gade, as eksekuteur te benoem. ‘n Ander is om ‘n buitestander soos ‘n prokureur, ouditeur of ‘n trust maatskappy van ‘n bank aan te stel en ‘n laaste opsie ‘n familielid en ‘n buitestander. Die voordeel daarvan om ‘n familielid te benoem is dat daardie familielid […]

Who should I appoint as trustee of the trust for my minor children?

The trustees are the persons that manage and invest the trust assets and use them to the advantage of the beneficiaries nominated in the trust deed. It is obviously important to choose someone that you can trust. Expertise with respect to asset management is an advantage, but not a prerequisite as the trustees can still […]

Who should I appoint as guardians of my minor children?

Most estate planners nominate their parents, a brother, a sister or a friend as guardians. In respect of parents their age is normally an important consideration. The guardians are the persons with whom the children grow up and who will take important decisions in respect of the children, such as which school the children should attend. […]

Who should I appoint as executor of my estate?

One option would be to nominate a family member, such as the surviving spouse, as executor. Another would be to nominate a third party, such as an attorney, an auditor or a trust company of one of the banks. The advantage of nominating a family member is that he / she can negotiate a fee […]

When will a document intended to be a will, be recognised by our courts as a valid will?

In terms of Section 2(3) of the Wills Act, 7 of 1953 the Court must order the Master of the High Court to accept a document, drafted by a person, who died since the drafting of the document, if that person intended that document to be his will despite the fact that the document does […]

When last did you check your will?

Most people do not like to think about death. This is probably the reason why most people neglect to have their will revised on a regular basis. This can lead to major problems. You should regularly check your will to ensure that it caters for: 1. Guardians and a trust with appropriate trustees for minor […]

What should be in my will?

Although several standard wills exist and are used extensively, each testator’s or testatrix’s circumstances and intention differ from the next. It is therefore of the utmost importance to ensure that whoever drafts the will, has the necessary legal training and experience to do it properly Here is a list of items that are often overlooked […]

What is a usufruct?

A usufruct is a limited real right entitling the holder thereof to have the full benefit and enjoyment of the property, in respect of which the usufruct is held, until the usufruct holder passes away or the right lapses after a specified time, where applicable. The usufruct holder is prohibited from selling the property without the consent […]

What formalities have to be complied with when a will is signed?

No will signed on or after the 1st of January 1954 shall be valid unless- 1. the will is signed at the end thereof by the testator or by some other person in his presence and by his direction; and 2. such signature is made by the testator or by such other person or is […]