SPECIALIST DECEASED ESTATE DIVISION WITH EXPERIENCED TAX ATTORNEYS & CHARTERED ACCOUNTANTS

The finalisation of a deceased estate holds unique challenges, especially where the SARS tax affairs of the deceased were not up to date or properly planned; high net worth estates; or simply complex deceased estates including international beneficiaries and complex structures. The executor is often caught in dealing with tax complexities outside their core areas of expertise and / or frustrating delays in process, whilst the beneficiaries are unable to understand the delays in finalising the estate.

WE PROVIDE A COMPLETE TAX SOLUTION FOR THE EXECUTORS AND BENEFICIARIES OF A DECEASED ESTATE

Our typical clients are professional estate executors, attorneys, accountants or bankers who have the scars to show and knows that the SARS estate tax process requires a different skills set. We also assist where the executor is a family member or professional, who is unable to finalise an estate due to complexities with SARS and/or the taxes of the estate, deceased or beneficiaries.

Our services are unique in the market, being:

15 years of experience, 72 professional and no subcontracting of services.

Dedicated estate tax team, includes admitted attorneys, chartered accountants and estate tax administrators – estate finalisation requires a multi-disciplinary team.

Deeply experienced in working with SARS on a daily basis, know-how of SARS systems, requirements and processes for expedited conclusions.

Cost-effective fixed fee solutions on less complex estates where expedited conclusions are required.

Our typical clients are professional estate executors, attorneys, accountants or bankers who have the scars to show and knows that the SARS estate tax process requires a different skills set. We also assist where the executor is a family member or professional, who is unable to finalise an estate due to complexities with SARS and/or the taxes of the estate, deceased or beneficiaries.

Our services are unique in the market, being:

15 years of experience, 72 professional and no subcontracting of services.
Dedicated estate tax team, includes admitted attorneys, chartered accountants and estate tax administrators – estate finalisation requires a multi-disciplinary team.
Deeply experienced in working with SARS on a daily basis, know-how of SARS systems, requirements and processes for expedited conclusions.

Cost-effective fixed fee solutions on less complex estates where expedited conclusions are required.

OUR NICHE SERVICES

Complete outsource of estate tax solution, taking responsibility for the finalising of all tax matters and in an expedited manner.

Deceased tax profile correction.

Dealing with any open historical tax matters.

Registering estate with SARS on a first-time correct basis.

SARS valuation process, including dealing with complex sworn valuation processes.

Capital gains on tax on death, estate duty, deceased estate tax computations, submissions and finalisation.

Tax clearance certificates.

Dealing with complex SARS matters, tax filing strategy, SARS dispute resolution including objections, appeals and tax court.

Complete outsource of estate tax solution, taking responsibility for the finalising of all tax matters and in an expedited manner.
Deceased tax profile correction.
Dealing with any open historical tax matters.
Registering estate with SARS on a first-time correct basis.
SARS valuation process, including dealing with complex sworn valuation processes.
Capital gains on tax on death, estate duty, deceased estate tax computations, submissions and finalisation.
Tax clearance certificates
Dealing with complex SARS matters, tax filing strategy, SARS dispute resolution including objections, appeals and tax court.

RISK FACTORS IN DECEASED ESTATE MATTERS

TAX COMPONENT
Tax matters must be finalised, before the Estate is winded-up, as the risk of outstanding tax returns, tax debt and huge amounts of administrative penalties can have dire consequences for the heirs and surviving spouses.

Generally, Executors / Executrix or appointed Agents lack the application of Tax knowledge, skills or professional qualifications as Tax Practitioners to deal with the tax component in tax matters in deceased estates.
TAX PRODUCTS
The risk of not identifying all the tax products applicable in a deceased estate such as suspensive conditions entered into, members of Close Corporations, sale of assets prior to death, will have an impact on the tax calculations to be performed in a deceased estate.
TAX UPDATES
The Income Tax Act introduces new sections annually and treatments of certain aspects relating to windfall capital gains tax or retirement vehicles needs to be applied and prior knowledge gained by regular continued professional development in Tax and updates are paramount. The correct taxing of gains and losses and VAT treatment with regards to cryptocurrencies holding or trading are an example and the tax treatment thereof will be clarified in binding rulings or interpretation notes from SARS. Tax Practitioners visit these interpretation notes on a regular basis to be able to apply the correct application.
INTESTATE DECEASED ESTATES
The risk factor with Intestate estates relate to the distribution and division of assets to the degree of relationship between blood relations of the deceased in terms of the Intestate Succession Act, 1987 which distribution could include a direct or collateral line, per stirpes. Should all the heirs not be identified correctly, and the Next-of-Kin Affidavit be fraudulent, the distribution of assets will be incorrectly executed.

TAX COMPONENT
Tax matters must be finalised, before the Estate is winded-up, as the risk of outstanding tax returns, tax debt and huge amounts of administrative penalties can have dire consequences for the heirs and surviving spouses.

Generally, Executors / Executrix or appointed Agents lack the application of Tax knowledge, skills or professional qualifications as Tax Practitioners to deal with the tax component in tax matters in deceased estates.
TAX PRODUCTS
The risk of not identifying all the tax products applicable in a deceased estate such as suspensive conditions entered into, members of Close Corporations, sale of assets prior to death, will have an impact on the tax calculations to be performed in a deceased estate.
TAX UPDATES
The Income Tax Act introduces new sections annually and treatments of certain aspects relating to windfall capital gains tax or retirement vehicles needs to be applied and prior knowledge gained by regular continued professional development in Tax and updates are paramount. The correct taxing of gains and losses and VAT treatment with regards to cryptocurrencies holding or trading are an example and the tax treatment thereof will be clarified in binding rulings or interpretation notes from SARS. Tax Practitioners visit these interpretation notes on a regular basis to be able to apply the correct application.
INTESTATE DECEASED ESTATES
The risk factor with Intestate estates relate to the distribution and division of assets to the degree of relationship between blood relations of the deceased in terms of the Intestate Succession Act, 1987 which distribution could include a direct or collateral line, per stirpes. Should all the heirs not be identified correctly, and the Next-of-Kin Affidavit be fraudulent, the distribution of assets will be incorrectly executed.

SPECIALIST DECEASED ESTATE DIVISION WITH EXPERIENCED TAX ATTORNEYS & CHARTERED ACCOUNTANTS

WE PROVIDE A COMPLETE TAX SOLUTION FOR THE EXECUTORS AND BENEFICIARIES OF A DECEASED ESTATE

OUR NICHE SERVICES

RISK FACTORS IN DECEASED ESTATE MATTERS

PROFESSIONAL MEMBERS