MORNÉ BEZUIDENHOUT: Get your estate plan sorted out, now
Your will is signed but is your estate plan sorted? An estate plan caters for the management and disposal of your estate when you die, while effectively reducing taxes and other expenses to maximise the value of the estate.
Nominating beneficiaries deserves careful consideration. Estate duty, executor’s fees and taxes on assets bequeathed to your beneficiaries may all apply depending on where your assets lie. Understanding how your beneficiaries will be affected is the first step in creating an effective estate plan.