We have a well-established and extensive estate and trust department with a multi-faceted approach involving legal, tax, investment and insurance planning. To meet the financial and estate planning needs of our clients in a rapidly changing South Africa, we offer a diverse range of services.
We tend to avoid thinking about our mortality but same is inevitable and we need to plan accordingly. Failure to plan accordingly will result in chaos and possible family feuds in the unfortunate event of your passing.
There are numerous elements to consider when drafting a will, such Estate Duty, Donations Tax, creating a trust for minors, setting up usufruct (lifelong personal right to an asset or property, for eg: Your child inherits the property but your surviving spouse has the right to stay in the property or receive rental income until he/she passes away), Power of Attorney in the event of a deteriorating mental illness and many more.
It is of vital importance that your will is drafted in such a manner that it valid, binding and enforceable. The Act sets out certain requirements for a valid will.
To ensure that the beneficiaries in your will is in accordance with your wishes, it is of vital importance to draft and amend your will annually. Your original will and testament will be archived and kept safe and a friendly staff member will contact you annually to enquire whether you require any changes to your existing will.
Estate planning refers to the process of arranging, managing and dispositioning a testator’s affairs in such a manner that it optimizes their aspirations, whilst at the same time, benefitting the respective beneficiaries to such a degree that estate duty and donations tax is minimised, whilst adequately protecting the testator’s assets against any unwanted creditors.
Where a person passes away and they have left behind any assets and money to their name, a deceased estate comes into existence. If the deceased left behind a will, their estate will be administered in accordance with the will. If the deceased died without a will, their estate will be administered in terms of the Intestate Succession Act.
Our team of Lawyers at Mpanza & Associates Inc strive to produce the best professional legal advice possible at the most affordable prices. Our team believes in the principles of excellence, hard work and integrity. We have a good business reputation and determined to serve not only individuals but also institutions as well as corporate businesses.