Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Search Products
Filter by Categories
Company Secretarial
General Business
General Interest
Investing in Property
Personal Growth
Personal Wealth
Trusts and Estate Planning

The other day, a client sent me his draft will to review. Amongst other things, he had bequeathed his dog to his sister-in-law. This raised a two interesting issues.

The first question was why would he want to do that? Those of you who love your pets as children may want to ensure that a close family member agrees to care for them in the event of your death. It may then be appropriate (though not necessary) to include the bequest in your will.

Then we must ask whether this can be done, and the answer is simply yes, even though the dog was not named, it was still identifiable as being the dog owned by him at the time of death.

Next was the question of Estate Duty. Let’s say that the dog had a long pedigree and was worth R50 000. Would that form part of his estate for Estate Duty purposes? Hmmm. I’m not sure about that one. I think it would and my logic goes like this –

Someone realises that he is dying and seeks to avoid Estate Duty, so he sends his family out to buy as many highly pedigreed dogs and cats as they can find. They manage to spend R500 000 and voila! that little exercise saved R100 000 Estate Duty. Clearly this flies against the intention of the Estate Duty Act and I think a judge would find against the deceased estate. The question is, would it ever get before a judge? I doubt it.


XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Looking for even more informative content? Check out the books I have written which have proved to be very popular.

Need help with your Trust or Business?

Contact us today or set up a free meeting with our CEO, Derek Springett. We have been offering expert advice and business services since 1971. You can also view see our full list of services.

Do you want to leave your cart?

Your cart is awaiting your next purchase, so please proceed to the Home page and continue shopping. If you are leaving your cart because of problems, why not give us a call on our 24 hr numbers 063 866 8928 or 011 805 0030 (subject to load shedding)? If all else fails, call Derek, our CEO on 082 552 9696. We’ll do what we can to help