Life is busy but your will is one of the most important documents you'll ever draft and all we need is an hour of your time.
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Mark is one of only 30% of South Africans who got his will in place in order to protect his family if he’s no longer around.
Mark never thought about the fees his executor & trustees will charge, leaving his estate and beneficiaries with much less than he hoped for.
For as little as R 135 per month, our Legacy Protection Plan™ solves this and many other problems, should you pass away.
Don't be like Mark and leave problems when you want to leave a legacy!
With access to a specialist consultant, free collection and safe-keeping, and unlimited amendments at no cost, our services provide an easy and stress-free way to secure your will.
Our services offer the option to create a trust for your loved ones, especially those with disabilities, and provide a personal estate consultant to guide you through the process.
Our services provide the flexibility of choosing any executor, the assurance of established in-house professionals administering the process, and the option of covering costs up to 100% upfront.
We will take care of all the trusts required by your will to ensure your beneficiaries are protected and get the most of their inheritance.
Learn more about usCapital Legacy was the first to bring out an insurance policy integrated with your will that pays for the fees and costs when you pass away. It's called the Legacy Protection Plan™ and has revolutionised the industry, helping more than 300 000 South Africans since we launched in 2012.
No hidden agendas with us. There are costs but NOT for the will itself, rather the executor & trustee fees should you choose to appoint us. We have a solution for these fees but first, let's quickly help you estimate these.
Cover your fees
We recommend our LPP™ to cover your fees of and costs of from only
Swipe right for breakdown*Based on a 37-year-old
male non-smoker.
We recommend our LPP™
to cover your fees and costs of
from only pm *
Tap here for more information
We recommend our LPP™ to cover your fees of and costs of from only
Cover your fees Swipe right for breakdown*Based on a 37-year-old
male non-smoker.
This policy is the most cost effective way to provide funding to cover your estate legal costs. It can also prevent massive delays in administering your estate, saving your family trauma and at worst financial ruin.
Affordable premiums for any age, with BIG benefits
Has no cease-age and covers you for your entire life
Includes cash benefits to plug gaps that your other policies cannot
When you pass away, your family could have limited access to money. Ensure there is money available to cater for things such as funeral expenses, travel arrangements, groceries and other immediate expenses. This benefit pays within 48 hours giving rapid relief to your loved ones.
Estates take time to wrap up and there are costs that can become an additional burden to your family. This benefit is available in cash to the executor of the Estate, to help them pay for the costs relating to the Estate, such as Master's fees, correspondence fees, property clearance and advertising costs.
If both you and your spouse should pass away, it can be a financial shock to your beneficiaries. It’s often too expensive to cover the costs associated with both spouses passing away simultaneously. Through this benefit, you can provide for inheritance taxes and other additional legal costs as well as the loss of monthly income.
If an estate has a shortfall, the executor will either sell assets to meet the financial requirements or the heirs will pay the shortfall to preserve the assets, such as property, for the assets to be transferred to them. However, an estate that does not have enough assets to pay for all the debts will be declared as insolvent, and the beneficiaries will not inherit anything.
Learn moreYour will is probably the most important document you’ll ever sign. A will, which is more commonly known as a last will and testament, is a legal document that stipulates how and to whom your assets (for example your property/ies, cars, jewellery, investments etc.), should be distributed when you die. Your will would include detail of your last wishes, such as whether you want to be buried or cremated and who you wish to be your children’s guardian, should you pass away while they are still young. A person writes a will while still alive and its instructions are only carried out once the individual dies. A will also names a person as the executor of the estate, and that person is responsible for administering the estate. It is important that you make sure your will complies with the Wills Act to ensure it is valid. The principle of freedom of testation is one of the cornerstones of the law of succession in South Africa. This principle allows the testator or testatrix to distribute their assets to whomever they wish. There are, however, laws that determine how a deceased estate is administered (distributed) when someone dies intestate, which is without a will. When you have a valid will, you provide guidance on how your estate should be administered, once all the relevant legislation such as the Children’s Act and Maintenance of Surviving Spouse have been considered. Documenting your last and final wishes in your will allows you to exercise your freedom of testation, regardless of how complex or simple your familial relations and financial obligations may be. Too many people put off this important task until it's too late, which can have devastating consequences for your loved ones.
Learn moreNo, wills are perpetual by nature, which means once the testator proofs and validates his will, it will never terminate. A will can never actually “expire,” and there is no restriction that limits the time during which a will is still valid. The only way a last will and testament becomes invalidated is when the testator revokes all previous wills, in their current will. There are also additional restrictions on the time during which the executor of the will can initiate probate. Even though your will may still be valid, it is important to remember that your will may no longer be suitable for your needs. Your circumstances may have changed significantly since you prepared the will. For example, you may have since got married, or divorced, one of your beneficiaries may have passed away or you may have acquired substantial assets not covered by your will.
Learn moreNo, but they can be allocated a bequest in an Islamic will, provided that the sum of all bequests does not exceed one-third of the estate. Alternatively, they can be nominated as beneficiaries of the MyCover™ extender on the Tazkiya™ Family Takaful.
Learn moreA last will and testament generally includes:Who your beneficiaries, heirs and legatees are: your will stipulates who will benefit from your estate and what portion of your estate you bequeath (give) to them.Whether a testamentary trust should be created for your minor children (known as beneficiaries).Who the trustees should be if you do require a trust be set up.Who the guardians of your minor children should be.Who the executor of your estate should be.Your last wishes: such as whether you want to be buried, be an organ donor, etc.As Capital Legacy are the leading will administrators in South Africa and we believe in providing an excellent fiduciary service, with a human touch.
Learn moreWhen someone passes away it is important to remember that there are four types of taxes that come into play when dealing with the estate: 1.) Income Tax for the deceased individual (Personal Taxes); 2.) Capital Gains Tax; 3.) Estate Duty Tax; and 4.) Donations Tax (if applicable to the specific Estate).Income Tax (Personal Taxes)The executor of the estate has a duty to make sure that all tax returns of the deceased are up to date with the South African Revenue Services (SARS).If any tax years are outstanding the executor will then have to request the relevant tax certificates/IRP5s from the respective institutions and then send it onto the tax practitioner to have them submitted and uploaded at SARS.The estate will be charged Income Tax on any and all income, whether it is for dividends received, rental income or interest accrued during the estate administration process.There are two types of assessments that must be carried out: firstly, a pre-date assessment (all income and deductions that were applicable to the deceased up to their date of death); and secondly, a post-date of death assessment (all income and deductions in the estate from after date of death).B: If the deceased was a pensioner at the time of death or even a few years prior to date of death, the tax returns should still be completed and submitted to SARS in order for SARS to advise the executor that the taxes are in order and therefore provide the executor with a Tax Compliance Certificate (TCC) for the estate.Capital Gains TaxWhen someone passes away, the deceased individual is deemed to have disposed of their assets. This is because there has been a “change of ownership” as the assets will now be inherited by the heir/s in the estate.This deemed “change of ownership” attracts Capital Gains Tax for the estate and is payable to SARS.If the executor of the estate sells property or receives property into the estate then these assets will attract Capital Gains Tax.However, it is important to note that certain assets in a deceased estate are excluded from Capital Gains Tax. These include: assets for personal use (there are certain exceptions); assets inherited by the surviving spouse; the proceeds from life assurance policies; and interests in pension, provident or retirement annuity funds.At death, there is a once-off exclusion of R300 000 which means that R300 000 of the gain or loss will not attract any tax on capital gains made.Any amount over and above R300 000 will have an inclusion rate of 40% and this amount will then attract the applicable tax as per the deceased individual’s marginal rate.Estate DutyEstate Duty is determined based on the gross value of the Estate.Each individual is granted a rebate of R3.5 million and Estate Duty is therefore only taxed on the value of the estate over R3.5 million.Estate Duty is levied at 20% on the first R30 million and then 25% on the value above R30 million.In terms of Section 4(q) of the Estate Duty Act – the Estate Duty liability in respect of the assets inherited by the surviving spouse is postponed. This means that it is deemed that the deceased individual disposed of the assets on the day of his/her death but the liability for the tax is postponed until the death of the surviving spouse.Donations TaxDonations Tax does not form part of the calculation of an individual’s Income Tax liability and the Donations Tax calculation is done separately on each occasion that a donation is made.Donations Tax is not levied on an individual’s income but on the capital transferred which is usually in the form of assets.There are two parties involved in a donation, i.e. the donor (the person who makes the donation) and the donee (the person who received the donation).The donor is liable for the payment of the donation tax. If the donor fails to pay his tax within the prescribed period (normally by the end of the month following the month in which the donation took effect or for a period as the Commissioner may allow,) the donor and the donee are jointly and severally liable for the Donations Tax.Donations (taking into account certain exemptions as discussed below) are subject to donations tax levied at a rate of 20% on the value of the donation and applicable to donations made on or after 1 October 2001.The following donations are exempt from Donations Tax:Donations between spouses.Donations that are made and materialise only when the donor dies. For example, if a person has a life-threatening job.Donations which the donee will only receive the benefit of upon the death of the donor.Donations that are cancelled within six months of taking effect.Traditional councils, traditional communities and certain tribes.Property located outside the Republic of South Africa. This is only applicable if the donor: acquired the property before becoming a resident of the Republic; or through inheritance from someone who at the date of his/her death was not resident in the Republic; or by using funds from the sale of the property and replacing it with other properties.Exempt organisations such as: government; provincial administrations; municipalities; etc.
