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  1. #21
    User
    Join Date
    Mar 2014
    Location
    edgemead cpt
    Posts
    351

    Default 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 !!

  2. #22
    User
    Join Date
    Mar 2014
    Location
    edgemead cpt
    Posts
    351

    Default Re: Wills and Estate planning

    Quote Originally Posted by shooty View Post
    As SSP says above.

    Dont F! around

    Even where I did in assistance with a Lawyer Firm. I made sure to get in all cases more then one valuation from reputable places. For value of house and cars before submitting.
    Exactly as we did by instructions

    Qeustion can the executor fees be declined by the chosen family member who is the executor??
    As to save more cost ??
    So the executor would do it for free ?
    Last edited by jehan; 18-11-2021 at 11:59. Reason: Wrong part of QUOTE selected

  3. #23
    User
    Join Date
    Dec 2015
    Location
    Eastern Cape
    Posts
    1,025

    Default Re: Wills and Estate planning

    Quote Originally Posted by shooty View Post
    But do not lock any firm or company in on will as executor.
    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.

  4. #24

    Default 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.

  5. #25
    User
    Join Date
    Aug 2014
    Location
    Durban North
    Age
    58
    Posts
    1,711

    Default Re: Wills and Estate planning

    Years and years of wrangling and only the lawyers walk away smiling.
    This is why it's important to work with ESTATE LAWYERS. Then it can drag on for a decade and the fee will be exactly the same. What my experience has been.
    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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