Page 65 - Nexia SAB&T Estate Planning Guide 2024

IMPORTANT POINTS TO BEAR IN MIND

n A Last Will and Testament only deals with property in deceased’s name
at the time of his death, and a badly worded Will may lead to unintended
consequences.
n In regard to business interests, an association agreement between members
of a Close Corporation, or a shareholder’s agreement in regard to a private
company may prescribe how a deceased’s interest should be dealt with.
n When a testator is married in community of property, he must remember that
it is only half of joint estate that he is able to bequeath in terms of his Last
Will and Testament. The other half belongs to spouse in consequence of the
marriage.
n Trust assets do not fall within the testator’s estate at death. Trust assets are
dealt with in terms of the trust deed.
n Careful consideration of all the principles and legal implications should be
exercised by the estate planner and discussed with a professional adviser
before taking any course of action.

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