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Thread: Wills and Estate planning
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18-11-2021, 11:51 #21
- Join Date
- Mar 2014
- Location
- edgemead cpt
- Posts
- 351
Re: Wills and Estate planning
Gents to be clear
we had to get quotes on all assets which we did as no second hand dealer / valuator wanted to come out to look at cars ect with cov19. we submitted the only ones that was officially send rest was telephonicly and would never be accepted anyway " this. was to set up the L&D. once we got the clear to sell.
I paid and bought the cars out of estate legitimately with documentation and approval ...then transferred in my name.
I sold 2 out of the 3 and kept my dad's pride and joy all funds I desided to donate to the estate to help
I think I should just go sit in the corner and hush as I might be giving and confusing information
As I said I'm not a attorney best advice is asked questions and follow their nstructions !!
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18-11-2021, 11:57 #22
- Join Date
- Mar 2014
- Location
- edgemead cpt
- Posts
- 351
Re: Wills and Estate planning
Last edited by jehan; 18-11-2021 at 11:59. Reason: Wrong part of QUOTE selected
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19-11-2021, 00:24 #23
- Join Date
- Dec 2015
- Location
- Eastern Cape
- Posts
- 1,025
Re: Wills and Estate planning
My biggest fear always is that the Lawyer/Bank/Insurance Company that is appointed as executor wont always act in best interest of heirs. Looking after their own pocket and easy way out. Selling of property instead of making property income generated assets.
Is it wise to appoint a family member (non heir) or friend as co executor with the Lawyer/Bank/Insurance Company to make sure the best interest of the heirs is been look after.
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20-11-2021, 02:58 #24
- Join Date
- Oct 2014
- Posts
- 536
Re: Wills and Estate planning
And nobody has mentioned if the will gets contested.
Or if there is no will. And it is contested.
Years and years of wrangling and only the lawyers walk away smiling.
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20-11-2021, 17:03 #25
- Join Date
- Aug 2014
- Location
- Durban North
- Age
- 58
- Posts
- 1,711
Re: Wills and Estate planning
Years and years of wrangling and only the lawyers walk away smiling.
1) Family member, will correctly drawn up, all bases covered, biggest holdup was getting a death certificate, otherwise plane sailing.
2) Interstate family member, more complicated and longer process due to being interstate.
Took about 9 months to wrap up.
In the above 2 instances, not 1 Rand was paid in advance, estate charged @ 3%.
3) Extended family(aunt and cousins), just a lawyer not a specialist. Fees for every letter, and bitter contest for well over a decade, nobody walked away happy.
Conclusion, get an Estate lawyer to deal with an estate.
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