Trusts & Estates Law News
More newsA cautionary tale for well intentioned ‘community trusts’
Trusts are created by corporates for various reasons, including to promote Black economic empowerment initiatives, create employee share incentive schemes, and extend a corporate’s social responsibility reach.
Safeguarding your legacy: Estate planning for directors and professionals
In the dynamic South African economic landscape, directors and professionals often dedicate their lives to building successful companies and thriving careers. However, a crucial aspect that is often overlooked is the potential for personal liability and how it can impact their meticulously built estates. Effective estate planning is not just for the wealthy; it’s a vital tool for all directors and professionals to protect their personal assets from the financial repercussions of their corporate or professional responsibilities.
Valid or not valid? Unsigned electronic wills in South Africa
A will represents an individual’s final wishes and their intentions for how their belongings must be handled after their death. The law requires certain formalities to be met in order for a document to be deemed a valid will in terms of the Wills Act 7 of 1953 (Wills Act). The question often asked is: What happens if my will does not meet these requirements? The North Gauteng High Court has provided some guidance for when a document reflecting last wishes is unsigned.