Your Trusted Guide
Estate Planning
01
What is Estate Planning?
Estate planning encompasses the crucial steps you take to organize your financial affairs and ensure your assets are distributed according to your wishes after you pass away. It’s more than just writing a will; it’s a comprehensive strategy to safeguard your legacy and minimize the burden on your loved ones during a difficult time.
02
South African Law and Estate Planning
South African inheritance law dictates how estates are distributed if you die without a valid will (intestate succession). This process can be complex and time-consuming, potentially leading to outcomes that differ from your original intentions. Estate planning allows you to take control and ensure your assets are distributed as you see fit.
03
The Process of estate planning
The estate planning process typically involves several key steps:
- Inventory & Valuation of Assets: This involves identifying and valuing all your assets, including property, bank accounts, investments, and life insurance policies.
- Beneficiary Designation: You’ll need to designate beneficiaries for your assets, specifying who will inherit what.
- Will Drafting: A crucial element, your will outlines your wishes for asset distribution, guardianship of minor children (if applicable), and the appointment of an executor to manage your estate.
- Considering Trusts: In some cases, establishing a trust can be beneficial for tax purposes or asset management for specific beneficiaries.
- Power of Attorney: A power of attorney allows a designated person to manage your financial affairs if you become incapacitated.
04
Consultation Process
At Engelsman Magabane Incorporated, our team offers a comprehensive and personalized approach to estate planning. We will:
- Guide you through the process: Our experienced attorneys will explain your options and help you make informed decisions based on your unique circumstances.
- Draft a customized will: We will ensure your will accurately reflects your wishes and complies with all legal requirements.
- Advise on trusts and other strategies: We can explore the potential benefits of trusts and other estate planning tools to optimize your plan.
- Provide ongoing support: We are available to answer your questions and address any concerns throughout your estate planning journey.
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Why Choose Engelsman Magabane Incorporated?
Choosing Engelsman Magabane Incorporated provides several advantages:
- Experience & Knowledge: Our team possesses in-depth knowledge of South African inheritance law and extensive experience crafting effective estate plans.
- Client-Centered Approach: We prioritize understanding your individual needs and goals, tailoring the plan accordingly.
- Clear Communication: We ensure you comprehend the legal and financial implications of each decision.
- Peace of Mind: We offer a comprehensive approach, allowing you to focus on the present with the knowledge that your future is secure.
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FRANKEL ENGELBRECHT
B.Com LLB University Of Stellenbosch
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Don’t leave your legacy to chance. Contact Engelsman Magabane Incorporated today to schedule a consultation and start building your personalized estate plan.