Trusts, Wills & Estates Attorneys in Sandton

Formation and registration of trusts

Trusts have a reputation as vehicles for the preservation of wealth for future generations. A trust can be used to hold property, and other different kinds of assets such as stocks and bonds in perpetuity for future generations. In the past, the tax benefits of trusts made them especially attractive, but these benefits have since eroded. Trusts in South Africa now attract a rate of 45%. Despite this, trusts are still valuable legal instruments with many benefits that Tumbo Scott can advise you on how best to use based on your unique situation and needs.

The benefits of trusts are multifold, but chief among them are the savings for your heirs that will accrue on estate duty or inheritance tax. If you are looking to form or register a trust, let Tumbo Scott help you with the process. Leverage their skills and experience to create a vehicle that protect your hard earned wealth, and preserve and manage it for your family for generations to come.

Drafting of wills

Drafting a will is important because it describes your final, binding wishes about the disposal of your property and assets. A will is so much more than a document that describes who gets what. It should be a well thought set of instructions about what the administration of your estate. It can be an emotional task, and that is why you need the help of experienced professionals to guide you through it. The team at Tumbo Scott is well versed in both the Wills Act and probate law. A sound knowledge of both is required to draft a will that complies with the law and can stand up to contestation should it arise.

Administration of estates

When you are drafting your will it is important to think about who you want to appoint to execute the instructions contained within it. It is important for you to be aware of the role, responsibilities and powers that you confer when you appoint someone the executor of your estate. An experienced professional like the ones at Tumbo Scott will have no problem explaining this to you, and helping you select the right candidate. An executor does not have to be an heir to the estate and Tumbo Scott can perform this role for you, if you so wish.