In terms of a bewind (or vested) trust, the beneficiaries are the owners of the trust assets. The nominated trustees only have administrative control over the trust assets, which they manage solely for the benefit of the beneficiaries.

When discussing trusts (and the possible formation of one), most people associate the terminology with wealthy families looking after their own, especially upon death. And that is not wrong - family trusts (where all the beneficiaries to a trust are family members) do exist and are sometimes used for this very reason.

When discussing trusts (and the possible formation of one), most people associate the terminology with wealthy families looking after their own, especially upon death. And that is not wrong - family trusts (where all the beneficiaries to a trust are family members) do exist and are sometimes used for this very reason.

It does happen, no matter how careful we may be, that on the passing of our beloved family member, we simply cannot locate their last will and testament. We search high and low, but an actual physical copy cannot be found. Panic sets in. Everyone believes that the deceased executed a will during their lifetime.

A will is a formal, signed, written document, in which the deceased (now referred to as the testator) voluntarily sets out their instructions in unambiguous terms as to how their assets are to be “passed down” or inherited following their demise. 

Our Constitution (at Section 25 of the Constitution) gives us all what is known as “freedom of testation”.  It grants a testator extensive power to draft a will which directs how his or her estate’s assets must be distributed upon death.

Therefore, crypto assets would be treated as intangible assets in your estate for both executor’s fees and estate duty purposes.

Contesting a will essentially refers to raising a formal objection against the validity of a will, based on the contention that the will does not reflect the actual, true intent of the testator. A will may be challenged or contested in its entirety or in part.

Conveyancing relates to the legal process that transfers ownership of the home from the seller to the buyer. The conveyancer (who is an attorney) is usually appointed by the seller, but paid for by the buyer (the fact that the fees are normally covered by the buyer is simply a rule of thumb.

Find comprehensive answers to some of the most popular questions regarding wills, trusts and estates in South Africa and how the legal framework is set up locally.