The benefits of creating a trust
Trusts are well-known to facilitate effective estate planning and continuity planning strategies. That said, setting up a trust – whether an inter vivos (between the living) or a testamentary (created in a will) – should be carefully considered and not just implemented blindly. The difference between testamentary and inter vivos trusts A testamentary trust is […]
Implications of estate duty
Estate duty is charged on the dutiable value of the estate in terms of the Estate Duty Act. The general rule is that if the taxpayer is ordinarily resident in South Africa at the time of death, all of his/her assets (including deemed property), wherever they are situated, will be included in the gross value […]
Usufruct, Usus and Habitatio: What is the difference?
Usufruct, usus and habitatio are personal servitudes. These servitudes are sometimes considered as an estate planning tool to reduce estate duty, but testators don’t always realise what this entails and the burden it could place on the heirs. What is a personal servitude? A personal servitude is always constituted in favour of a particular […]
Usufruct, Usus and Habitatio: What is the difference?
Usufruct, usus and habitatio are personal servitudes. These servitudes are sometimes considered as an estate planning tool to reduce estate duty, but testators don’t always realise what this entails and the burden it could place on the heirs. What is a personal servitude? A personal servitude is always constituted in favour of a particular individual […]