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Filter: Deceased Estate
Preserving your art legacy: Tax tips for collectors

02 September 2024,  André van Niekerk, Annelize van der Bank

For art collectors planning to pass their cherished collection down to heirs, it’s crucial to understand the tax implications involved.... While your artwork may hold sentimental and financial value, ensuring a smooth transfer requires navigating potential tax liabilities.

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The taxes applicable to a deceased estate

29 May 2024,  André van Niekerk, Tebello Setleko

When a person passes, their estate must be reported to SARS and so becomes a new taxpayer with various taxes... applicable. If the deceased had foreign assets, international taxes may also apply. The executor of the deceased estate is responsible for handling all tax matters related to the deceased estate, which can become quite complex, depending on the nature of the estate. In this article, we look at some of the most important taxes applicable to a deceased estate.

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Real estate in a deceased estate – what are the options?

06 November 2023,  Natalie Steenkamp

Dealing with real estate in a deceased estate can be a complex and emotionally challenging process for heirs. In such... a situation, understanding the available options, addressing cash shortfalls, and resolving disputes are essential steps in the administration of the deceased’s assets. In this article we shed light on these crucial aspects and provide guidance to heirs on facing these challenges.

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Why can deceased estates take so long to be finalised?

29 May 2023,  Tebello Setleko

The family of a deceased are often confronted with the harsh reality of having to wind up a deceased’s estate... after his or her passing. Usually, there is the expectation that this should go quickly, but unfortunately, the reality is that the process is hardly ever a quick one. So how long then does it take to wind up a deceased estate? 

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What to know when buying from a deceased estate

05 July 2022,  Natalie Steenkamp

As you sign the deed of sale of your newly bought property, you realise that the seller is the executor... in a deceased estate. What should you look out for when buying from a deceased estate and what is the process?

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What are some of the major complexities when a deceased estate involves off-shore assets?

08 April 2022,  Annelize van der Bank

One in ten South African deceased estates that come across our table for administration have a significant component of off-shore... assets that must to be included in the administration of the estate. With South Africans expanding their asset based internationally, we only foresee this increasing as more and more South Africans own and invest in off-shore assets.

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Can a testator rule from the grave?

16 March 2021,  Johnny Davis

I was recently appointed as the executor of a deceased estate of a family member. The provisions of the deceased’s... last will and testament are very strict and every bequest is subject to some form of condition. Do I have to adhere to the provisions of the last will and testament or did the deceased exceed his right to rule from the grave? 

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Who can inherit from a child’s estate?

10 February 2021,  Natalie Steenkamp

I have a friend who has been looking after her grandson since birth when her daughter just walked out on... the child after he was born with deformities. My friend managed to obtain a settlement with the hospital for negligence during the birth and now takes care of the child using the money from the settlement. The child is very sick and may not have much time left with the biological mother suddenly making an appearance to try and claim the remainder of the settlement money. Surely my friend is entitled to the money having taken care of the child all her life? What is the position in law?

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Does your pension payments form part of your insolvent estate?

10 February 2021,  Jonathan Le Riche

I am on the verge of being declared insolvent. In the next few years I will receive pension payouts from... my pension fund. I am concerned, though, that my pension will also fall into my insolvent estate and I will lose my pension? Will this happen?

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Estate Planning 101: Tax exemptions and your last will and testament

09 February 2021,  Johnny Davis

The taxman will always come knocking during your lifetime, but he is not always as unreasonable as society implies. The... mighty Income Tax Act and all other tax related pieces of legislation do allow for certain exemptions, which all young individuals should take note of. Each exemption can justify a lengthy conversation but for purposes of this blog, I would like to shortly address some important exemptions to keep in mind.

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Estate Planning 101: Life insurance and inter vivos trusts

30 November 2020,  Johnny Davis

Some young professionals are lucky in the sense that mom and dad could help buy them that first car, or... even that first house if you are really privileged. For the rest of us, the well-known concept of debt is a necessary evil to get us on our way. In the event of your passing, the purpose of a life insurance policy is simply to save your loved ones the headache of that monthly car or house instalment and also to pay the taxman who comes knocking.

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Can I keep my grandfather’s rifle?

12 October 2020,  Millisanté de Wee

My grandfather recently passed away and left me his hunting rifle. I’m not sure if I want to keep it,... but would like to weigh my options. How does it work? Must I take the rifle?

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