Wills and estates - a webinar series

Presented by Linda Schoeman-Malan

This webinar looks at the situation where, after the death of a person, an invalid will is found - a will that does not comply with the prescribed formalities.  The possible application for condonation of non-compliance with the formalities and subsequent rescue of a will by the courts will be discussed.

When the administration process (the liquidation and distribution of the estate) starts, one of the first steps is to establish whether the testator left a (validly executed) will.

Since the enactment of the Law of Succession Amendment Act in 1992, the Wills Act empowers the courts to:

• excuse non-compliance with formalities for the execution and amendment of wills (section 2(3));
• recognise certain acts as effective revocation by sanctioning them as revocation actions (section 2A).

These amendments to the Wills Act have, however, resulted in confusion and a proliferation in the number of cases dealing with the interpretation and application of the provisions.

Presented by Linda Schoeman-Malan

Approximately 70% of all estates reported at the Master’s Office are intestate or partially intestate estates. This means that, as an estate practitioner, you need to have a clear understanding of the principles of the Intestate Succession Act 81 of 1987, which guide intestate succession.

Concerning the remaining 30% of estates, i.e. those that are testate, the will-drafter has to ensure that the will accurately reflects the client's wishes and is valid in that it complies with the requirements of the Wills Act 7 of 1953.

Presented by Linda Schoeman-Malan

In the era we live in, people are living longer and becoming richer.  Testamentary freedom is highly regarded. Family disputes dealing with the testamentary capacity of an elderly, vulnerable (suffering from dementia/Alzheimer's disease), physically disabled or ailing testator have increased.

Whenever a family member or client wants to execute a will, the requirements and test for testamentary capacity should be applied.  This is especially true in the case of an elderly testator.  There are specific requirements that need to be complied with during the execution process.  The role of a will drafter has become more important in establishing whether a potential testator has the required testamentary capacity, through applying several modern tests which have been developed to establish capacity.

Presented by Linda Schoeman-Malan

Some estates literally take years to be finalised and often beneficiaries become frustrated and unhappy with the executor and the pace at which the administration of the estate is progressing.

The process of compiling the liquidation and distribution account is often interrupted by an application to the High Court to clarify certain legal aspects related to the administration of the estate and the winding up of an estate.

Every so often the conduct of the executor or decisions taken by the Master are questioned and the executor or Master is regularly added as a party to the lawsuit.

This webinar will focus mainly on the juridical aspects which apply when a deceased estate is administered, whereas Webinar 5 focuses on the practical administration of a deceased estate.

FISA members receive CPD points for attending.

Presented by Jannie Rossouw

Any estate administrator knows that there are numerous small (or bigger) practical problems that they might encounter in the administration of a deceased estate.  That’s why this webinar focuses on the practical side.  It will guide you on the practical aspects of the administration of deceased estates, with specific focus on the day-to-day problems that executors often run into.  These include:

• the documents and information needed for the undertaking and reporting of an estate to the Master;
• identifying the deceased’s assets and liabilities;
• the liquidation of assets;
• the reflection of assets and liabilities in the liquidation and distribution account;
• handling objections raised against the L&D account;
• resolving disputes and conflict between heirs or beneficiaries;
• SARS and e-filing; and
• estate tax, income tax and capital gains tax before and after the date of death (the taxes are discussed in detail in Webinar 6).

This webinar will focus mainly on the practical administration of a deceased estate, whereas Webinar 4 focuses on the juridical aspects that apply.

FISA members receive CPD points for attending.

Presented by Jannie Rossouw

Deceased estates are synonymous with taxes.

Where Webinar 5 touched on taxes in passing, this webinar really cuts to the heart of the matter, discussing various aspects of income tax, capital gains tax, estate duty and donations tax.

Calculating the capital gains tax aspect of income tax can be a complicated matter and the necessary expertise is required.  Some administrators simply omit to calculate capital gains tax while others perform incorrect calculations.  This often leads to objections being raised by SARS to the liquidation and distribution account, which in turn leads to delays with the Master in authorising the advertisement thereof.  And on top of that, the estate's tax liability in turn influences the calculation of estate duty.  One miscalculation can have a big ripple effect.

In this webinar, the presenter will provide practical guidance on steering clear of the numerous potential pitfalls.