FAQ’s

Is this Last Will and Testament really free?

Yes, Mzanzi Lifestyle Products ensures a Will professionally drafted, collected & stored for free.

Will the specialist help me understand all and explain all the estate fees involved?

Yes, an accredited specialist will educate you on all the costs involved (Executor, conveyancing attorney, inheritance tax and duties, trust fees, ect) when a person passes away. Ask your specialist about the solutions available to cover these costs.

Does a Last Will and Testament expire?

No, a Last Will and Testament only becomes invalidated when you revoke all previous Wills in your current Will. 

What is the “Estate of a Deceased Person” ?

Estate refers to everything you own which includes bank accounts, properties, etc.  It can be more complicated, however the Will specialist will assist in explaining this further.

How long will it take for the inheritance to paid to me?

The exact length of time depends on the complexity of the Estate though the aim is to administer an Estate within 6 to 9 months. An Executor is required by regulation to submit a Liquidation & Distribution Account to the Master of the High Court within 6 months of the date of the Letter of Executorship. Please note that the total time to administer an Estate varies and could take years.

How much can be inherited without paying taxes?

A rebate of R3,5 million on Estate Duty is available to each individual.

This means during Estate administration an individual’s Estate is exempt from paying Estate Duty on the first R3,5 million of the taxable value.

Are taxes payable on the sale of my deceased parent’s home?

Yes, taxes are payable either as part of the Estate if sold before the Estate is finalised or as Capital Gains tax on your individual capacity if you sell the home after you have inherited it.

Does Life Insurance form part of the Estate?

No, it is only part of an Estate if the policy is not left to a beneficiary. Often, people do not list everything they own in their Wills. 

Please explain Executorship?

The administration of the deceased Estate (Winding up the estate) is governed by the Administration of Estates Act, 66 of 1965 (as amended).

The Master of the High Court  appoints someone to fulfill the duties and processes and this person is referred to as the Executor of the Estate.