Free Will

Or see what your bank offers. Did a quick one through FNB a while back, don't think it cost anything.
 
Ohhh fok

This must mean we've solved all the actual problems to be spending time on this kak.
 
saor said:
Or see what your bank offers. Did a quick one through FNB a while back, don't think it cost anything.
Click to expand...
Bank = no fee upfront, but extortionist executor fees from your estate. This is a problem if you have dependents.

That said, I'm not sure what sort of executor fees are taken by the law firms who participate in Wills Week.
 
RonSwanson said:
Banks offer this "for free", but there is a catch, you have to name them as the executor. AFAIK the LSSA allows you to choose your executor.
Click to expand...
Further to this, I have seen that some attorneys slip a Special Power of Attorney form in along with the usual FICA and Client information forms. Do not fill this out, unless you really want to give them special power of attorney over your estate.
 
From personal experience :

  • Nominate a trustworthy friend/family member as executor.
  • The nominee can ( after your death) approach a company to act as the executor on your behalf.
  • If above was followed - one can negotiate with appointed company over fees ( normally 3,5 %)



 
Quick question, if I am married in community of property and my life insurances are in my wife names, house in both our names, not sure what the issue is?
 
lexor said:
From personal experience :

  • Nominate a trustworthy friend/family member as executor.
  • The nominee can ( after your death) approach a company to act as the executor on your behalf.
  • If above was followed - one can negotiate with appointed company over fees ( normally 3,5 %)
Click to expand...
Yeah, The Master (for some strange reason) does not like laypeople as executors and usually insists that an attorney assist the nominated executor. Is this prescribed by the Act, or are they just being lazy?
 
rh1 said:
Quick question, if I am married in community of property and my life insurances are in my wife names, house in both our names, not sure what the issue is?
Click to expand...
You'd be forgiven for thinking so.
There is always an issue, best to have a will that indicates 1) marriage in community of property 2) that the surviving spouse gets "Winner Takes it All" benefits. Otherwise it's open to all sorts of interpretations and challenges, and to be honest, even cut and dried situations like this can be made quite complex.
 
  • Like
Reactions: rh1
thats-your-will-ou-need-that-many-pagesto-say-give-37872429.png
 
RonSwanson said:
Yeah, The Master (for some strange reason) does not like laypeople as executors and usually insists that an attorney assist the nominated executor. Is this prescribed by the Act, or are they just being lazy?
Click to expand...
Snippet from guideline at the Masters Office

1663575251331.png

So does not seem like it is prescribed by a Act and laypeople can but will proof of prior experience in winding up of estates so either them being lazy or want to push the blame to others if something goes wrong.
 
Forza said:
Snippet from guideline at the Masters Office

View attachment 1385716

So does not seem like it is prescribed by a Act and laypeople can but will proof of prior experience in winding up of estates so either them being lazy or want to push the blame to others if something goes wrong.
Click to expand...
Very interesting. thank you.
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X