It’s not an easy conversation, but death happens to us all.
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.
Your will is important, so is planning for the costs of dying. Here's why:
/3
Meet Mark.
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.
However...
Mark never thought about the fees his executor & trustees will charge, leaving his estate and beneficiaries with much less than he hoped for.
The Solution!
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!
Why do your will with Capital Legacy?
Because whichever way you look at it, we have the solution all under one roof
The Will
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.
Your Beneficiaries
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.
Your Estate
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.
Your Trusts
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.
Did you know…
Capital 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.
Calculate your cost of dying
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.
How much is your estate worth?
What is the value of your properties?
Do you have kids younger than 18? *
We recommend our LPP™
to cover your fees and costs of
from only
pm*
Tap here for more information
Why do I need the Legacy Protection Plan™?
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
For as little as R 105.87 pm
Integrated benefits
With the Legacy Protection Plan™
Immediate Liquidity™
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.
Estate Overheads Protector™
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.
Estate Gap Cover™
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.
Frequently asked questions
What are the duties of an executor of an estate?
The main duties of the executor of an estate are:Controlling, protecting and transferring the deceased's assets, in line with their last will and testament or the Intestate Succession Act;Taking care of all the legislative requirements;Settling all outstanding debts and paying all administration expenses;Ensuring that the final Income Tax returns are lodged and all taxes are paid; andDistribution of final balances in the estate.The entire deceased administration process is supervised and validated by the Master of the High Court, who also performs a judicial function by dealing with any objection(s) lodged against the Liquidation and Distribution (L&D) account or any contestation(s) made against a will.
How long does it take to finalise a deceased estate?
There is no set time scale as every estate differs depending on the personal circumstances of the deceased. We endeavour to finalise deceased estates in about nine months. However, we cannot guarantee this timeframe as complex estates may take longer. In some instances, an estate cannot be reported to the office of the Master of the High Court due to factors such as missing or unsigned documents, or cause of death. Then the Master will not issue the Letters of Executorship (LoE) or Letter of Authority (LoA) and the deceased estate cannot be administered until one is issued. This is just one example of a potential administrative roadblock, but our dedicated team does everything they can to address these issues and move the process forward.
Do you have to pay tax on inherited property?
In general, when an individual passes away and bequeaths their entire estate to their surviving spouse, no Capital Gains Tax is payable. If the surviving spouse is inheriting the immovable property (house) in the estate, then the estate will also not be levied with Capital Gains Tax. However, if anyone other than the surviving spouse inherits from the estate, then Capital Gains Tax, Estate Duty and Donations Tax (if applicable) would be levied.
Do I need a lawyer to draft my last will and testament?
Your last will and testament is one of the most important documents you will ever sign. Drafting a will forms part of the process of estate planning and involves a range of considerations. While you do not, by law, need a lawyer to make a will, getting expert guidance can ensure that your will is valid and your final wishes are carried out effectively.There are several professionals who can help draft your will, such as banks, accountants, and organisations that specialise in wills. You can also draft your will yourself, granted that it meets all the legal requirements for a valid will. DIY wills are even available at stationery shops. However, there are significant benefits to having a professional help you draft your will.Other than the 'who', it is even more important to focus on the 'what' in your will, to meet the legal requirements of a valid will. Here, it is a good idea to ask an expert to draft your will.Anyone aged 16 years or older, who is mentally competent, can draft a will.A will must be in writing – either by hand or typed – and the signature of the person whose will it is (testator = male, testatrix = female) must appear on every page. These signatures must be made in the presence of two competent witnesses.Witnesses must be aged 14 years or older, of sound mind, and not be named in the will. They must sign in the presence of the person whose will it is, and of each other.Your original signed will should be held in safe custody. You can keep a copy for your records.Estate planning considerations refer to making a plan for everything you own, and everything you owe. The guidance of a professional can offer peace of mind. When you embark on your estate planning journey, it is to ensure that your assets are distributed the way you want and that your loved ones are provided for when you pass away. It also means making sure there’s enough money to settle outstanding debts and taxes, pay estate taxes and other costs associated with dying. Aspects such as your marriage regime, capital gains tax and any other applicable income taxes must also be considered. It can feel quite overwhelming. We are here to make the process as simple as possible. We offer a full suite of wills and estate administration services, all under one roof. For more information or to arrange your complimentary will consultation, speak to your financial advisor or contact us.
Can I appoint the Capital Legacy Board of Executors and Trustees as executor of my Islamic will?
Yes. The Capital Legacy Board of Executors and Trustees (CLBOET) is fully licensed and employ the expertise and knowledge of the Tazkiya™ Shari’ah Advisory team of Islamic Scholars to provide sound expertise and advice regarding Shari’ah requirements when administering an estate. They also have a legally qualified, in-house team to assist in the administration of an estate according to the rules and principles of Shari’ah.
How do I settle an estate after someone dies?
The estate administration process is also known as winding up an estate. After someone passes away, an executor is appointed by the Master of the High Court to finalise the deceased estate. If you have been nominated as executor in someone’s will but you do not have the expertise to finalise the estate, the Master may instruct you to enlist the services of a company or professional who can assist. Then, your options would include renouncing your role as executor or remaining as executor but nominating a company or professional to act on your behalf under Power of Attorney. This is why it is always a good idea to nominate a professional executor in your will, to ensure the speedy and smooth winding up of your deceased estate.
Not to brag, but we're kinda good at what we do.
Don't take our word for it though...