Having a Valid Last Will and Testament Has Become Even More Essential
The current laws applicable when a person dies intestate (without a valid will), namely the Intestate Succession Act and Maintenance of Surviving Spouses Act, bestow benefits only on spouses, i.e. married couples. In other words, partners in permanent life partnerships are currently excluded from receiving inheritance or maintenance as they are not considered “spouses”. This is […]
National Budget 2023 Summary
THE LACK OF RELIABLE ELECTRICITY SUPPLY IS THE BIGGEST ECONOMIC CONSTRAINT Against the backdrop of rising inflation and rolling blackouts that are continuing to plague the South African economy, Finance Minister Enoch Godongwana delivered the National Budget address on Wednesday, 22 February 2023. During his address, he revealed the government’s preliminary plan to alleviate Eskom’s […]
2022: A year of gratitude
Looking back on 2022, it has truly been an exciting year with quite a few milestones. CMV Hermanus is celebrating its fifth anniversary this year; we have appointed around eight new staff members and have welcomed two new directors. CMV is incredibly grateful for the team that devoted so much time and effort to building […]
Who is appointed as an Executor of a deceased estate?
The executor is the person who is nominated in the last will and testament and officially appointed by the Master in a Letters of Executorship to administer the deceased estate, subject to certain requirements. If the deceased did not nominate an executor in his or her will, or if the deceased died intestate (without a […]
TRUSTS IN SOUTH AFRICA
TRUSTS IN SOUTH AFRICA More individuals are recognising the importance of estate planning and are looking for effective ways to protect their assets in order to transfer their wealth to their beneficiaries. One of the mechanisms utilised in estate planning is the establishment of a trust. A trust is a legal entity, set up by […]