YOUR WILL
I am sure that you are familiar with the saying that nothing is certain in life,
other than death and taxes.
For this reason, if for no other, it is important to ensure that one’s Will is up to date.
Experience indicates that one should review one’s Will every two to three years, as almost invariably changes in circumstances will be encountered that necessitate either a Codicil, or even a fresh Will.
In addition, there have been changes to the estate duty legislation over the past few years, which could also make it advantageous to revise your Will.
The estate duty exemption was increased in 2007 to R3 500 000.00 per person. It is important that one’s affairs are structured in such a way as to take advantage of this concession, as well as other changes to the tax laws, to ensure that one’s estate is not saddled with unnecessary estate duty and capital gains tax. The cost of reviewing your Will and discussing these changes is small in relation to the savings that can be achieved.
We hope that this information will be useful to you and should you require any further assistance please do not hesitate to contact us!
Disclaimer: The material contained herein is purely for information purposes and does not constitute legal advice and we therefore accept no responsibility for loss or damage which may be incurred from relying on information supplied herein.
All rights reserved
If you are interested in buying or selling property in South Africa, please visit www.sahometraders.co.za.
No comments:
Post a Comment