Estates & Trusts
ADMINISTRATION OF ESTATES

As executor, Stabilitas is legally vested with with the administration of the estate.The executor does not succeed the persona of the deceased. It’s position is a fiduciary one and he must act in good faith and legally. He must act in terms of the Will and in terms of the law.

The duties of the executor are:

  • $Assisting the next-of-kin with the registration of the estate with the Master of the High Court
  • $Obtain possession of the assets of the deceased
  • $Determining of the Beneficiaries
  • $Advising Beneficiaries
  • $Determining of creditors against the estate
  • $Determining the solvency of the estate
  • $Consider the needs of dependants as prescribed in law
  • $Finalize the administration of the estate, as prescribed in statute.
  • $Pay all debts, administration costs and taxes
  • $Realize assets as prescribed by statute to provide for cash shortfall
  • $Reduce the estate cleared of debts into possession of the beneficiaries in terms of the conditions of the Will
deceased estates info
boedelinname info

ADMINISTRATION OF MORTIS CAUSA TRUSTS

As a trustee, Stabilitas is committed to administer the trust in compliance with the Trust Property Control Act and more specifically to, at all times, act with the diligence and care that is expected from a person handling the affairs of another.

True to its fiduciary obligation, Stabilitas will furthermore ensure that all funds are utilized for the sole benefit of the beneficiary(ies) in conjunction with the guardians in order to allow such beneficiary(ies) the best possible maintenance, support, education and material advantages, according to the latter’s station in life.

The investment strategy will be subject to:

  • $Low risk investments with a guaranteed income and the preservation of capital
  • $Liquidity
  • $Time horizon
  • $Taxation
  • $Liquidity
  • $Compulsory audit

INTER VIVOS TRUSTS

Based on the law of contract the deed should be drafted with care in order to ensure that:

  • $The rebates referred to in the Transfer Duty Act can be fully utilized
  • $None of the anti-avoidance sections of either the Income Tax Act or Estate Duty Act can apply
  • $Discretion of trustees are unfettered in order to avoid vesting of benefits in a beneficiary or his creditors
  • $The initial estate owner's interests are protected by means of the entrenchment of powers
  • $Flexibility is guaranteed, by including selective testamentary prerogatives
  • $A wide choice of capital and income beneficiaries are ensured by means of proper definition
  • $The definition of vesting date is formulated in such a manner that termination is at all times left to the discretion of the trustees
  • $Amendment of the deed is possible by means of unanimous agreement between the trustees after the death of the founder
  • $Providing for the “pass over principle"

Registration of Inter Vivos Trusts

Drafting and registration fee – R6,350.00 including VAT