Succession Planning and Execution
Many of our clients have assets in multiple countries as a result of foreign heritage or living and working abroad. When this is the case, and especially when you are a South African resident, having all your assets in your own name can lead to lengthy and expensive probate procedures in each individual country where assets are held, often leaving your heirs without access to these assets for a considerable amount of time. Furthermore, worldwide assets can, in some cases, be taxed at a rate of up to 40% upon death, on top of the high probate fees.
In order to avoid these issues and minimise costs and delays, it is essential to plan your succession carefully and take appropriate measures in advance. Unfortunately, the rules and regulations in different countries are often hard to navigate and they tend to change quickly.
With many years of experience working with expatriates, and other individuals with internationally mobile lifestyles, we are in a good position to help with all aspects of succession planning in an international environment, such as writing a Will, setting up a trust, execution and administration of both probate and the estate. Over the years we have built a valuable network of reputable experts and service providers in many different areas, giving our clients access to the best solutions in line with the latest developments.