Home
/
Our Insights
/
Article Detail
/
Home
/
Home
|
Login
Our Team
Our Expertise
Our Insights
BOOK CONSULTATION
SUBSCRIBE
Our Team
Our Expertise
Our Insights
You can share this article in the following networks2:
Failing to Plan is like Planning to Fail: the Importance of Estate Planning and its implications on Maintenance Matters
27 August 2018
466
One of South Africa’s fundamental legal principles is that of freedom of testation, which allows persons, with the requisite capabilities, to bequeath their assets to whomever they choose. However, the law also provides for reciprocal obligations for maintenance between certain parties, such as that between parents, children and spouses. It is important that those wishing to execute a valid will keep these obligations in mind, so as to ensure smooth and efficient winding up of the estate.
When it comes to matters of estate planning the testator must remember that before inheritance in terms of a deceased’s will is dealt with, there might be various possible claims against the estate that will take precedence. These include, but are not limited to:
• Maintenance of surviving spouses, regulated by the Maintenance of Surviving Spouses Act 27 of 1990;
• Maintenance obligations between parents and children, regulated by the Maintenance Act 99 of 1998;
• Contractual claims, based on agreements entered into before date of death; and
• Court orders to which the deceased was bound prior to date of death.
One should therefore consult with a specialist when drafting a will to ensure that all relevant matters are taken into consideration before a will is drafted.
Previous
Stepping into Your Shoes: Power of Attorney vs. Curatorship
Next
SARS and B-BBEE Commission working together
Tags:
Estate Planning
Share:
Talk to us
Get in touch with us to discuss how we can help you with your challenges
Get in touch
Related Insights
The latest developments in respect of the new Anti-money Laundering Legislation
You must take capital gains tax into account in your estate planning
Employment of foreign nationals in South Africa to be tightly regulated
Popular Insights
AI Rights vs Human Rights
Safeguarding your legacy for your children
What to expect from the new draft Employment Equity Act Regulations
Recent Insights
The latest developments in respect of the new Anti-money Laundering Legislation
You must take capital gains tax into account in your estate planning
Employment of foreign nationals in South Africa to be tightly regulated
You can share this article in the following networks:
Offices
+27 21 860 1240
Back to top