Optimise your financial and legal structure by adequately planning for your estate.
Planning an estate is also a way of optimising the use of financial and other legal structures such as companies and trusts.
Proper Estate Planning ensures that:
Here's what to consider when planning for your estate:
1. Will and Testament
It is important to structure the Will in such a manner that it would secure a practical and equitable distribution of the estate, whilst at the same time affording beneficiaries adequate protection and minimising death duties.
Identifying the need for income and capital for events such as disability, retirement, funding the acquisition of a business interest (partnership assurance) and for the maintenance of your dependants in the event of your death.
3. Buy and Sell Agreement
Protecting partners in the event of death or disability of one partner.
Succession: Who takes over your sole proprietary, and on what terms?^
Taxation: What are the donations tax, income tax (including Capital Gains Tax) and Estate Duty implications?
Property should it be bought in the name of an individual, a trust or a company.
4. Deceased Estates
The administration of deceased estates, in accordance with the last Will and Testament of the deceased, or in terms of the laws of intestacy, where the deceased had no Will.
What is a will and why do I need one?
Advantage of having a will & testament
Disadvantages of dying without a Will & Testament
5. Estate Administration
Mchumana Investments has a section that administers all of our deceased estates. The administration of an estate can be a highly technical process which may appear cumbersome and difficult to the uninformed. As executor we strives to administer clients’ estates as quickly as possible to the full satisfaction of all parties concerned without giving up on our personal service.