Unlike other trusts that come into existence while you are alive, a Testamentary Trust is created in your Will, but only takes effect after your death i.e. the trust need not be registered in your lifetime, Letters of Authority are not granted in your lifetime and the assets are not transferred to the trust until after your death.   Because here’s the uncomfortable truth: a basic Will can sometimes do more harm than good, especially if it hands over wealth without protection

written by Kirschlynn Viljoen Many businesses rely on independent contractors and consultants. But when it comes to anti-money laundering compliance under the Financial Intelligence Centre Act 38 of 2001 (“FIC Act”), an important question arises:   Do independent contractors also need to be screened under Directive 8?   This article unpacks the issue in plain terms and explains what accountable institutions should consider.   •            The screening obligation arises from:

It sounds comforting, doesn’t it? “ Don’t worry — if you don’t make a Will, the law writes one for you.” Well… yes. But not in the way most people think. In South Africa, if you die without a valid Will, your estate is distributed according to the Intestate Succession Act 81 of 1987. In our firm, we refer to this as the  “ default ” Will. Accordingly: You make your own Will, and failing which; You do not die without a Will, rather, the “ default ” Will, (the Intestate Success