by VDT Attorneys | Sep 2, 2024 | Art, Deceased Estate, Estate duty, Estate Planning
Following an individual’s passing, their estate may be subject to various taxes including Income Tax, Capital Gains Tax, Donations Tax, Estate Duty, and potentially VAT. The specific tax liabilities will vary based on the types of assets in the estate and the...
by VDT Attorneys | May 29, 2024 | Capital Gains Tax, Deceased Estate, Donation tax, Estate duty, SARS, Situs tax, Tax
Importantly, not all taxes are always applicable to every estate, with the circumstances of a deceased estate determining the applicable taxes. The executor also has has to register an estate with SARS even if the deceased was a pensioner or not registered for tax....
by VDT Attorneys | Nov 6, 2023 | Claim, Deceased Estate, Maintenance, Surviving spouse
When a person passes away, the executor administers their estate in terms of the deceased’s will or where there is no will, in terms of the Intestate Succession Act 81 of 1987. In both cases, the estate assets will be used to pay for claims against the estate and any...
by VDT Attorneys | Nov 6, 2023 | Deceased Estate, Real Estate, Shortfall, Transfer
A common option is to transfer the property to the beneficiaries mentioned in the deceased’s will or intestate according to the Intestate Succession Act 81 of 1987 where there is no will. This process involves the legal transfer of the property’s ownership...
by VDT Attorneys | May 29, 2023 | Deceased Estate, Estate Planning, Executor, Will, Wills and estates
The Administration of Estates Act 66 of 1965 (“Act”) differentiates between the winding up of small and large estates. When dealing with an estate smaller than R250,000, the process can be fairly simple and quick. A representative appointed in terms of a valid Will or...
by VDT Attorneys | Dec 14, 2021 | Deceased Estate, Estate Planning, Property
Where immovable property has been acquired by a person during their lifetime and such person passes away, the property forms part of that person’s estate and must be administered according to his will. The deceased can nominate one or more persons in his will to...
