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The equalization payment must be dealt with first as a claim against or in favour of the estate. The balance thereafter must devolve according to rules of intestate succession. If a husband has an estate of R100,000 at the start of his marriage, and R200,000 at the end of the marriage, R100,000 will have accrued.
The South African law of succession prescribes the rules which determine the devolution of a person's estate after his death, and all matters incidental thereto. It identifies the beneficiaries who are entitled to succeed to the deceased's estate, and the extent of the benefits they are to receive, and determines the different rights and duties that persons (for example, beneficiaries and ...
Testate succession exists under the law of succession in South Africa.. Testamentary succession takes place by virtue of either a will or a codicil: A will or testament is a declaration, in proper form, by a person known as the "testator" or "testatrix," as to how and to whom his or her property is to go after his or her death.
The estate tax rates in Maine range from 8% to 12%. The tax applies on estates worth more than $5.49 million. This guide has the information you need to know if you’re starting to think about ...
The legal question was whether the exercise of Mrs. Orpen's power of appointment in favour of Mr. Orpen, in terms of her father's will, was valid, and whether her spouse's deceased estate had obtained vested rights with regard to the twenty per cent trust capital that she bequeathed to him, regardless of the fact that she died before her father ...
In common law jurisdictions, probate is the judicial process whereby a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased; or whereby, in the absence of a legal will, the estate is settled according to the laws of intestacy that apply in the jurisdiction where the deceased resided at the time of their death.
The probate court will then oversee the process of distributing the deceased's assets to the proper beneficiaries. A probate court can be petitioned by interested parties in an estate, such as when a beneficiary feels that an estate is being mishandled. The court has the authority to compel an executor to give an account of their actions.
In civil matters a district court has jurisdiction where the value of the claim is R200,000 or less, while a regional court has jurisdiction where the value of the claim is between R200,000 and R400,000. [3] A regional court also has jurisdiction over divorce and related family law matters.