The Close Corporations Act provides that, subject to a cooperation agreement, an heir an interest a

The main purpose of estate planning is to ensure that as much of your accumulated wealth for your own benefit and for the maximum benefit of your beneficiaries upon your death.
"Estate planning" is defined as the process by which a program created and managed to: your assets during your lifetime to maintain, increase and protect The most effective allhitdeals and economical distribution allhitdeals thereof allhitdeals to subsequent allhitdeals generations is assured.
The lack of liquidity at death can naturally apply pressure on the remaining family of the deceased, because the shortage of cash can cause the executor will have to sell assets to generate cash.
Liquidity means there should be enough cash available to: Estate tax to pay; Estate expenses and administration costs to pay; Provide for tax liabilities that may arise with death, such as capital gains tax.
Death without a valid will, means that your estate as intestate will be handled, and the law of intestate succession will apply. The law on intestate succession provides that the surviving spouse the majority of R125 000 or a child sharing site. A child part is determined by the total value of the estate by the amount of children and the surviving spouse to share. Where a marriage in community of property marriage, go one half of the estate to the surviving spouse as a result of marriage, and the other half are inherited according to intestate succession. If there is no surviving spouse or dependents, the estate is divided between the parents and children. Where there are no parents or children are not split it between the nearest blood relatives.
If the value of the estate exceeds R3.5 million rand, estate duty is payable on the balance of more than R3.5 million, with the exception of property to a surviving spouse bequeathed, as it is exempt from estate taxes and / or capital gains tax.
Section 3 of the Act, the Subdivision of Agricultural Land prevent the subdivision of agricultural land and the registration of undivided shares in more than one person's name, and it is subject allhitdeals to the Minister's approval.
A minor is a child younger than 18 years, and any bequests to such a person be held in the Guardian, under the administration allhitdeals of the Master falls. These funds are not readily available and are usually invested at below market-related interest rates. It is therefore recommended that provision for minor children must be made through a trust.
The Close Corporations Act provides that, subject to a cooperation agreement, an heir an interest allhitdeals must stand (in terms of a will), the consent of the remaining members (if any) must be obtained. If permission is not given within 28 days after the request is not executor, the executor is obliged to the members' interest to sell.
Section 3 (3) (d) of the Estate Duty Act provides that where assets to a trust is transferred during the planner's lifetime, but he / she as trustee the power reserve him / her would allow unilaterally trust assets allhitdeals rid of his or his beneficiaries' benefit, then it may be that such assets may be regarded as his / her own and will form part of his / her estate for estate tax purposes.
Where a marriage in community of property marriage, the surviving spouse has a claim for 50% of the combined estate, the real value of the estate by 50%. The estate will be distributed after all the debt in the death estate paid (excluding funeral costs and estate taxes, because these obligations of the estate and not the joint estate). Only half of the assets in such an estate can be bequeathed.
The proceeds of life insurance policies can be used to: generate income after dependents to see when the estate is dealt; Estate expenses to pay for funeral costs, income taxes, estate administration and estate taxes.
Where a beneficiary or nominated on the policy, the proceeds as assets in the estate as for estate allhitdeals tax purposes, except that the proceeds are paid directly to the beneficiary (subject to the partial exclusion based on the policy premiums).
Policies excluded from inclusion for purposes of estate tax, is buying and selling, keyman policies, and those policies ceded to a spouse or child in terms of a marriage contract.
Certain assets in a deceased estate is excluded from capital gains tax: assets for personal use (with certain exceptions); Assets bequeathed to the surviving eggenoo