Property-related estate planning advice

FAQ for Property-related estate planning advice

What is property-related estate planning?

Property-related estate planning involves making plans and arrangements for the distribution of your assets, including property, after your death. This process includes creating a will, setting up trusts, and making other legal arrangements to ensure that your property is distributed according to your wishes.

Why is property-related estate planning important?

Property-related estate planning is important because it ensures that your assets are distributed according to your wishes after your death. Without proper planning, your assets may be distributed in a way that you do not want, or your loved ones may face unnecessary legal challenges and expenses.

What is a will?

A will is a legal document that outlines how you want your assets to be distributed after your death. It also includes instructions on who should be responsible for carrying out your wishes, such as an executor.

What is a trust?

A trust is a legal arrangement in which a trustee is appointed to manage assets for the benefit of one or more beneficiaries. Trusts can be used for a variety of purposes, including estate planning, tax planning, and asset protection.

Do I need a lawyer to create a property-related estate plan?

While it is possible to create a property-related estate plan without a lawyer, it is recommended to consult with a lawyer who specializes in estate planning to ensure that your plan is legally sound and meets your needs.

How often should I review my property-related estate plan?

It is recommended to review your property-related estate plan every few years or whenever there is a significant change in your life, such as a marriage, divorce, birth of a child, or the acquisition or sale of property.

Can I make changes to my property-related estate plan after it is created?

Yes, you can make changes to your property-related estate plan at any time as long as you are mentally competent to do so. It is recommended to consult with a lawyer if you need to make significant changes to your plan.

Conveyancing attorneys in South Africa specialize in the transfer of property ownership and the registration of immovable property transactions. The primary legislation governing conveyancing in South Africa is the Deeds Registries Act of 1937. This act outlines the procedures and requirements for the registration, transfer, and mortgage of immovable property. The Law Society of South Africa, along with its provincial branches, regulates and provides guidance to conveyancing attorneys. To access more information about conveyancing law and the Law Society of South Africa, you can visit the following links:

1. Deeds Registries Act: http://www.justice.gov.za/legislation/acts/1937-047.pdf
2. Law Society of South Africa: https://www.lssa.org.za/