Jan L Jordaan – Page 4

What does the Deeds Office do?

February 15, 2017 Jan L Jordaan Comments 0 Comment

The Deeds Office is responsible for the registration, management and maintenance of the property registry of South Africa. If you are planning on buying a house, it can be useful knowing about the Deeds Office. However, you would use the services of a conveyancer when buying or selling a house. Your estate agent should be able to recommend a conveyancing attorney to register your home loan and transfer a property into your name. What is conveyancing? Conveyancing is the legal…

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Owning property without a Will

February 15, 2017 Jan L Jordaan Comments 0 Comment

If you die without a will, an administrator will have to be appointed to administer your estate which will be distributed according to the laws of intestate succession. As such, your assets may not be distributed as you would have wished. It also means that the process will be delayed and that there will be additional expense and frustration which most people would not want to inflict on their loved ones during a time of loss. Marriage and property When…

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Pitfalls of appointing the surviving spouse as executor/trix:

January 10, 2017 Jan L Jordaan Comments 0 Comment

The appointment of the surviving spouse as executor seems to be the honourable and correct thing to do. This in particular where the deceased died without leaving a valid will, or failed to nominate an executor/trix in the last will and testament. The fact that the surviving spouse normally doesn’t have to provide the Master with security and that it seems to be the next best thing can often become your worst nightmare. This in particular the case where the spouse…

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What is the cost of my estate duty?

November 23, 2016 Jan L Jordaan Comments 0 Comment

In terms of the stipulations of section 4 of the Estate Duty Act No 45 of 1955 certain deductions from the value of an estate are allowed in order to determine the final value of the estate which will be subject to estate duty. The following two rebates are the most well-known: Section 4(q) – This is the total value of all the benefits bequeathed to the surviving spouse. The value of a usufruct also qualifies as an Article 4(q)…

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The living Will

November 23, 2016 Jan L Jordaan Comments 0 Comment

Most people are familiar with a will or testament and understand the importance of having this legal declaration drafted, by which the testator nominates an executor to manage his or her estate and provide for the distribution of his or her property to beneficiaries when he or she dies. But how many people have considered drafting a living will? A living will does not deal with assets, heirs and beneficiaries, but with the philosophy of death and dying, and should…

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Is it beneficial to create a Trust?

November 23, 2016 Jan L Jordaan Comments 0 Comment

A Trust can be described as a legal relationship which has been created by the founder, who places assets under the control of Trustees. This either happens during the founder’s lifetime (inter vivos trust) or at the death of the founder (testamentary trust). This article will focus on the advantages and disadvantages of an inter vivos trust. The advantage of a trust is firstly, that inter vivos trusts can be used to minimise estate duty. No estate duty should be…

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Should I draft a will?

September 15, 2016 Jan L Jordaan Comments 0 Comment

A mother who has always wanted her daughter to inherit her diamond engagement ring may never get her wish granted if she dies without leaving a valid written will. The mother’s estate would then be distributed in terms of the Intestate Succession Act No. 81 of 1987. Know where you want your possessions to go Taking the time to draft a will can leave you with the peace of mind that your assets will be distributed according to your wishes…

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National Wills Month

September 15, 2016 Jan L Jordaan Comments 0 Comment

Taking the time to draft a will can leave you with the peace of mind that your assets will be distributed according to your wishes as far as possible. Your will should reflect exactly how you want your assets to be dealt with after your death. The National Wills Week (in Jan L Jordaan Inc’s case “Wills month”) is a joint initiative of the Law Society of South Africa and its six constituent members, the Black Lawyers Association, the Cape Law Society,…

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What you need to know about estate planning

September 15, 2016 Jan L Jordaan Comments 0 Comment

The main aim of planning your estate is to ensure that as much of the accumulated wealth is utilised for your own benefit and for the benefit of your dependents on your death. What is estate planning? “Estate planning” has been defined as the process of creating and managing a programme that is designed to: Preserve, increase and protect your assets during your lifetime; Ensure the most effective and beneficial distribution thereof to succeeding generations. It is a common misconception…

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JAN L JORDAAN INC. IS PARTICIPATING IN NATIONAL WILLS WEEK, AN INITIATIVE OF THE LAW SOCIETY OF SOUTH AFRICA.

August 30, 2016 Jan L Jordaan Comments 0 Comment

Taking the time to draft a will can leave you with the peace of mind that your assets will be distributed according to your wishes as far as possible. Your will should reflect exactly how you want your assets to be dealt with after your death. There are a number of legal requirements that have to be complied with for a will to be valid. Inter alia: The Testator/trix (the person making the will) must be 16 years and older….

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