Cross Border Inheritance. My relative has died in South Africa and I am a beneficiary of his/her estate. This article will deal with the issue of inheriting while living overseas.

The process of administering a deceased estate is quite involved, and this discussion will attempt to outline the general step by step overview of the processes in the administration of a deceased estate with a threshold value of over R250 000.

Assets in a deceased estate may include interests or shares in a business venture, such as a Close Corporation or Private Company PTY (Ltd), which are also subject to be dealt with by the Executor in the administration of the deceased estate however, this is subject to the provisions of an Association Agreement, the Close Corporations Act in the case of a Close Corporation and the Shareholder’s Agreement (if any) in the case of a private company.

This article explores the duties and responsibilities of being an Executor of a Deceased Estate.

The deceased Estate winding up process can be very overwhelming for the family of the deceased. Especially as they go through the grieving process. It is a complex and lengthy process that can take a very long time to complete. And if you are reading between the lines, this also means that it will include a number of (sometimes hidden) costs.

An Estate is not only for the posh, fabulously rich and somewhat famous individuals on Bling Empire, the process of planning your Estate, with its values, possible deductions and exclusions of various taxes is complex and intricate.

When a natural person dies, that person is called a ‘deceased person’ and all his or her assets on the date of death are placed in an estate. This estate is then referred to as a deceased estate. And arising from this deceased estate are certain inheritance taxes that the deceased estate has to pay.

A simple letter of direction or “assets log” can greatly assist your Executor to fulfil their role in the best, and most efficient way. The more your Executor knows about your Estate, the more he/she can gather the information themselves, without a great deal of expense incurred to your Estate during the information gathering process.

South Africa and the United Kingdom entered into an agreement in 1978, otherwise known as a Double Taxation Agreement. This agreement is to eliminate double taxation in relation to Estate Duty (Inheritance Tax).

Assets in South Africa need to be managed by an executor legally authorised Master of the High Court. It’s important to be cognisant of implications in the legal administration of Deceased Estates.