Overview
Estate planning is complex and requires an in-depth understanding of income tax, estate duty concessions and legislative changes. Often overlooked and underutilised, estate planning is also a crucial aspect of financial planning and it is worth getting professional advice to ensure that you enjoy all the available Income tax and Estate Duty concessions.
At Private Client Holdings our Fiduciary services include Estate Planning, Will drafting, Inter Vivo’s and Testamentary Trust formation and administration and the administration of deceased estates.
Our Philosophy
Ensuring that your heirs receive their inheritance in the most tax efficient manner is a professional service on which we at Private Client Holdings pride ourselves. We are able to provide our clients with a comprehensive estate plan, assisting in the drafting of a will that suits your personal needs and expectations. We also advise on the formation and administration of trusts, act as independent trustees and in doing so ensure your wealth is protected for future generations.
Contact Details
Madelein Marais
TEL +27 21 671 1220
FAX +27 21 671 1149
EMAIL madelein@privateclient.co.za
Estate Planning Process
An Estate Plan is a plan that caters for the needs of the client whilst alive, as well as catering for the needs of those whom they wish to benefit on their death. At Private Client Trust we can provide you with an Estate Plan specifically structured for you and your family’s needs and requirements.
Private Client Holdings’ vast experience in the wrapping up of estates and our knowledge of tax, life assurance, the administrative process of the Master’s Office and SARS will ensure that your estate is handled timeously and with the greatest care and professionalism.
Our approach is based on building a partnership with our clients that is founded on understanding and mutual respect. Through expert analysis of our clients’ very specific needs, Private Client Trust are able to provide personalised estate planning solutions that are holistic, dynamic and, above all, sustainable.
Many of our solid client relationships have passed on from one generation to the next, a testimony to our integrity, quality and client focus. Our clients know that we are committed to adding value to their lives and to the lives of their children and grandchildren. With this knowledge, they are able to enjoy financially worry-free quality time with their loved-ones.
Do you have at least 3 of the following in place at the moment?
1. Do you have an updated will.
2. Consider a trust.
3. Have you made health care directives in case of old age or injury.
4. Have you made provision for financial power of attorney.
5. Is your children’s property protected.
6. File beneficiary forms.
7. Consider life insurance.
8. Understand estate taxes.
9. Cover funeral expenses.
10. Make final arrangements.
11. Protect your business.
12. Store your documents.
Wills
Your will is an essential part of estate planning as it stipulates how you want your assets dealt with upon your death. It is essential to have a well structured will to ensure that your wishes can be executed on your death and to ensure peace of mind for you and your family knowing that your wishes will and can and will be executed on your death.
Drawing up a will is not a simple process and is governed by legislation that sets out the legal requirements for a valid will. Here at Private Client Holdings we keep abreast of legislative changes and can provide you with a well drafted will tailor-made to suit you and your family’s personal needs. Private Client Holdings will also keep the original signed will in safe custody.
Trusts
A trust is a very valuable tool in both tax and estate planning. They can be used for private individuals (a family trust) as well as for corporate business structures. However, trusts and the law relating to them is very complicated and in a lot of respects undeveloped.
Private Client Holdings offer professionally drafted trusts that provide appropriate solutions and suit our client’s planning objectives. We can also assist with the formation of valid inter vivo’s trusts as well as create testamentary trusts in terms of your will and attend to the administration of these trusts – acting as independent trustees to ensure your wealth is protected and preserved for future generations. By acting as a co-trustee we ensure that the proper care is taken in the management of the trusts assets.
Deceased estates
In South Africa, executorships and deceased estate administration is highly regulated, requiring a working knowledge of tax, life assurance, the administrative process of the Master’s office and SARS to name but a few. Private Client Holdings take on the responsibility of a professional executor in estates and can also act as co-executors or as advisors to the executor.
Our comprehensive approach to wealth management ensures that there is a smooth transfer of the client’s estate assets upon death. We also ensure that the spouse has sufficient income during the estate administration process and that the after tax inheritance is maximised.
To view the Fiduciary Services Forms click here.
Fees
Wills:
R400 (a new Will, PCT as the Executor) or R200 each for 2 Wills (husband and wife)
R1000 (a new non-PCT Will)
Estate Administration:
Executor’s Fees are 3.5% of Gross Value of Estate.
6% Executor’s Fee on any income earned after date of death.
Trusts:
Formation of a Trust: R4 400
Capital Management Fee on market value (minimum fee R2600): 1.2 %
Distribution Fee on market value: 2.0 %
Acceptance Fee: 1.0%
Income collection fee: 7.0%
Note:
Capital Management fees are charged up to 1.2% of the market value of the Trust’s assets. The fees may be reduced to the minimum fee where the Trust’s assets are managed by the group’s asset management company. The fees are payable on a monthly basis. If the minimum fee of R2,600 applies, it is payable pro-rata in year of registration and thereafter annually in advance on the 1st of March each year.
All fees exclude VAT.