Estate planning solutions for you and your beneficiaries
When a person dies, an executor is appointed to finalise or ‘wind-up’ his/her estate. Briefly, the executor’s duties are to collect the deceased’s assets, settle estate debts and distribute the balance to beneficiaries. This is referred to as administration of deceased estates. If the deceased died with a valid Will, the estate is administered and distributed in accordance with the Will. If the deceased did not have a Will, the estate is administered and distributed according to certain rules.
The administration of deceased estates requires more work than most people realise. It also requires certain specialist skills and should therefore only be entrusted to professionals who have the necessary expertise to handle such matters. At Lilram Attorneys, you can depend on our skills, insight and experience in estate administration. We will embark on methodical administration of the estate and will also ensure that the relevant property and assets are distributed to your beneficiaries. We are speedy and efficient with such matters and often visit Estate Controllers at the Masters office personally in order to expedite queries. Where immovable property (e.g. a house) is involved, our Conveyancer will also act speedily to transfer the property.
Entrust us with the administration of deceased estates. If you require assistance with a deceased estate, simply fill in the contact form at the end of this page and we will get in touch!
WILLS & TRUSTS
Timeous, well-informed estate planning is vital to ensure that your finances and assets are protected during your lifetime and are also optimally managed upon your death. Effective estate planning need not be complicated. It is always advisable to attend to it as soon as possible.
In addition to the registration of ante-nuptial contracts, our estate planning services include the drafting of Wills and registration of Trusts:
- Drafting of Wills
A Will is a ‘must have’ item! It serves the primary purpose of transferring your assets to your desired beneficiaries. A valid Will gives your loved ones clarity and transparency and it avoids conflicts and disagreements. If done correctly, having a Will can ensure that your estate is finalized in a financially savvy and tax-efficient manner. More importantly, having a Will can ensure that vulnerable dependents (e.g. minor children, the elderly or disabled) are protected and provided for in accordance with your wishes.
Your Will should be reviewed and updated so it reflects changes in your circumstances and wishes. Important changes in your personal and financial circumstances should automatically trigger a review.
A Will is an important legal document hence you must ensure it is drafted by a qualified professional. There are several pitfalls of do-it-yourself Wills. Many Wills are often rejected by the Master of the High Court because they are not accurate or do not comply with the prescribed legal requirements. At Lilram Attorneys we possess the necessary expertise to ensure that your Will is professionally drafted and properly executed.
If you have been delaying the important task of drawing up your Will, please contact us today!
- Registration of Trusts
A trust is one of the most valuable mechanisms to protect and grow assets. Trusts are often recommended for saving estate duty and for other important reasons such as: protecting your assets from creditors; structuring assets for the benefit of grandchildren and future generations; and/or managing finance for charitable causes. New court decisions and amendments to tax legislation can impact trusts. Speak to us to receive accurate and up to date legal advice on trusts.
Do you need assistance with a Deceased Estate, Will or Registration of a Trust? Contact us today.