Frequently Asked Questions

Inglis stephens

If you pass away without a valid will, your estate will be distributed according to the Intestate Succession Act (Act 81 of 1987), which may not align with your personal wishes.

Any inheritance due to a minor is paid into the Guardian’s Fund, where it’s managed on their behalf until they reach majority age. Without a will, no executor is appointed, and the Master of the High Court must do so. This person may be a stranger to your family and will need to provide a bond of security, which can cause delays and additional costs.

If your estate exceeds R250,000, the Master may appoint an attorney or professional executor to manage the process, often at added expense. Having a valid, updated will ensures your estate is handled according to your wishes, efficiently and with care.

A bond of security is a financial guarantee required by the Master of the High Court from any executor who has not been specifically discharged from such obligation in terms of a Will. This bond protects beneficiaries and creditors from the risk of estate mismanagement.

By naming a professional executor like Inglis Stephens in your will and explicitly discharging them from having to provide such security, you can avoid an unnecessary expense payable by your estate and ensure faster estate administration.

A professionally drafted will ensures your estate is distributed according to your wishes, efficiently and legally. When drafting your will, you should:

  • Comply with all legal formalities
  • Consider practical implications of your instructions
  • Customise the will to suit your family’s unique needs

Always seek expert advice to avoid future complications or delays for your loved ones.

  • Testamentary Trust: Created in terms of your will and only comes into being upon your death. It’s typically used as a vehicle to manage assets for minor children or beneficiaries with specific needs. Once you’re gone, the provisions of the trust cannot be changed.
  • Inter Vivos Trust: Created during your lifetime by agreement between the donor and trustees. It can receive and manage assets both before and after your death the provisions of which can be amended over time.

Estate administration involves complex legal, tax, and administrative requirements. A professional executor, like Inglis Stephens, ensures your estate is handled:

  • Efficiently and legally
  • With minimal delays
  • With care and accuracy

We liaise directly with the Master’s Office, SARS, creditors, and beneficiaries, ensuring a smooth and respectful process during a difficult time.

Book a Consultation

Every legacy deserves precision, purpose, and protection.
Book a consultation with Inglis Stephens to ensure your estate reflects your true intentions.

Inglis Stephens Fiduciary Services
Office 106, The Village Square, Durbanville, Cape Town
Tel: 021 914 1144 | Email: admin@inglisstephens.co.za
Website: www.inglisstephens.co.za