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SMARTWILL

PROUDLY PARTNERED WITH SAPIN CONNECT

OFFERING BENEFITS TO ALL SAPIN MEMBERS

Online. Personalised. Affordable

SMARTWILL

PROUDLY PARTNERED WITH SAPIN CONNECT

OFFERING BENEFITS TO ALL SAPIN MEMBERS

Online. Personalised. Affordable

Structuring estates correctly is paramount to securing and transferring wealth. The correct framework assists with acquiring financing for property investments and maximising tax efficiencies to secure your wealth for generations to come.

Zale Hechter

*Access a free SmartWill valued at R550 to all free SAPIN members. In addition, paying members will receive a free SmartExecutor to the value of R770 and professional members will receive free SmartStorage to the value of R990.

Andrew Walker

FREE Will:

If completed within 7 days.
Value of R550

FREE SmartExecutor:

Paying Members
Value of R770

Free SmartStorage:

Professional Members
Value of R990

Learn about SmartWill

Who needs a will? Well, everyone

Take better care of your children. Remove the delays in winding up your estate. Save your estate thousands of rands. Get peace of mind.

FREE Will

If completed within 7 days (Value of R550)

FREE SmartExecutor

Paying Members (Value of R770)

Free SmartStorage

Professional Members (Value of R990)

Estate planning

The difference between being rich and wealthy is the preservation of wealth. Without preservation, there is no wealth to transfer to the next generation. Planning and preparation are required to ensure that wealth is successfully transferred from one generation to the next.

Using a Trust is one vehicle to ensure preservation of wealth and the instruction to transfer all assets into a Trust upon death can be done using a Will. This instruction will save beneficiaries time, money and emotional turmoil.

The costs of poor estate planning

Structuring estates correctly is paramount to securing and transferring wealth. The correct framework assists with acquiring financing for property investments and maximising tax efficiencies. One of the best vehicles used to curb these risks are incorporated joint ventures. In this scenario the joint venture is responsible for after-death expenses. An asset held in perpetuity, like within a company, is not subject to estate duty, executors’ fees, transfer costs or capital gains. Many estates suffer liquidity shortfall to cover estate liabilities. This means there may not be enough cash to cover liabilities associated with the winding up of an estate. In this case heirs often must provide the cash required to cover these expenses before an estate can be wound up. In most instances this is not possible and so assets need to be sold, sometimes at a loss, to generate enough cash to pay. These costs are extensive and are not common knowledge.

The costs of poor estate planning

When winding up an estate provision needs to be made for the following hidden costs of death. Funeral expenses can have a price tag of anywhere from R25 000 to R50 000. There are Masters’ fees, major liabilities fees – like bonds and other loans. Next are tax liabilities including income tax, estate duty fees and capital gains tax. Property or asset transfer costs, including conveyancer and evaluation fees need to be paid as well as minor liabilities like credit cards and retail cards. Even cellphone accounts need to be settled and paid for up to two months. Furthermore, if there are firearms involved in the winding up of an estate, there would be storage fees for these items. Insurance protection for assets, accounting fees and bond cancellation fees are added to the mix and then, don’t forget e-toll fees!

Next there are the actual estate costs including executor fees and advertising fees. When all is said and done these expenses can add up to 6.5% of the value of the estate before major liabilities. These fees need to be paid with cash and if cash is not available, then assets will need to be sold forcefully to cover these expenses. When assets are forcefully sold it reduces their market value by up to 20% for property and a staggering 40% for the sale of a business.

Moreover, family members left behind still have monthly overheads like school fees, rates and taxes, electricity, water and so on. If liquidity is retained within the estate, the value of the estate can be retained. One of the best ways to address this is through the provision of a life insurance product. Life insurance covers bonds and loans, estate duties, capital gains and funeral cover.

When someone joins SA Property Investors Network (SAPIN) as a member, they have access to a power team of attorneys, conveyancers, fiduciary experts and financial advisors that can assist the member in setting up their investment portfolio correctly. This provides for tax efficiency and ensures hidden costs are taken care of.

SAPIN also offers a free SmartWill valued at R550 to all members when signing up for a free SAPIN membership. In addition to a free SmartWill, paying members will receive a free SmartExecutor to the value of R770 and professional members will receive free SmartStorage to the value of R990.

PROUDLY PARTNERED WITH SAPIN CONNECT

Connect Today

Smart Will

PROUDLY PARTNERED WITH SAPIN CONNECT

Smart Will

Who needs a will? Well everyone.

Why have a will?

Take better care of your children. Remove the delays in winding up your estate. Save your estate thousands of rands. Get peace of mind.

Why SmartWill? Online. Personalised. Affordable.

FREE Will: If completed within 7 days.
Value of R550

FREE SmartExecutor: Paying Members
Value of R770

Free SmartStorage: Professional Members
Value of R990

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