Fiduciary Services South Africa
Bizztax Accountants provides professional fiduciary services including estate planning, will drafting and deceased estate administration for individuals and families across South Africa.
What are fiduciary services?
Fiduciary services relate to the management and administration of a person's assets and estate — both during their lifetime and after death. In South Africa, fiduciary services typically include the drafting of wills, estate planning to minimise estate duty and other taxes, and the administration of deceased estates in accordance with the Administration of Estates Act 66 of 1965. A fiduciary practitioner acts in the best interests of the client and their beneficiaries.
Who needs fiduciary services?
Any adult with assets — property, investments, a business, savings or life insurance — should have a valid will and an estate plan. Without a will, your estate is distributed according to the Intestate Succession Act, which may not reflect your wishes. Estate planning is particularly important for business owners, married couples, parents of minor children, and anyone with significant assets or complex family circumstances.
Our Fiduciary Services
Will Drafting
We draft a legally valid will that reflects your wishes and ensures your assets are distributed to your chosen beneficiaries. A valid will must comply with the Wills Act 7 of 1953. We advise on the appointment of an executor, the nomination of guardians for minor children, and the establishment of testamentary trusts where appropriate.
Estate Planning
We provide structured estate planning to minimise estate duty, capital gains tax and other taxes on death. This includes advice on the use of trusts, life insurance, retirement annuities and other estate planning tools. We help you understand the tax consequences of your estate and plan accordingly.
Deceased Estate Administration
We wind up deceased estates in accordance with the Administration of Estates Act 66 of 1965. This includes reporting the estate to the Master of the High Court, obtaining letters of executorship, identifying and valuing assets, settling liabilities, paying estate duty and distributing the estate to heirs and legatees.
Frequently Asked Questions
Common questions about fiduciary services, wills and estate planning in South Africa.
What happens if I die without a will in South Africa?
If you die without a valid will (intestate), your estate is distributed according to the Intestate Succession Act 81 of 1987. This means your assets are distributed to your spouse and children in fixed proportions, regardless of your wishes. If you have no spouse or children, assets pass to your parents, siblings and other relatives in a prescribed order. Dying without a will can cause significant delays and disputes.
What is estate duty in South Africa?
Estate duty is a tax levied on the dutiable value of a deceased estate. The first R3.5 million of a deceased estate is exempt from estate duty (the abatement). The rate is 20% on the first R30 million above the abatement, and 25% on amounts above R30 million. Proper estate planning can significantly reduce the estate duty payable.
How long does deceased estate administration take in South Africa?
The administration of a deceased estate typically takes 12 to 24 months, depending on the complexity of the estate, the number of heirs, whether there are disputes, and the workload of the Master of the High Court. Estates with immovable property, business interests or offshore assets generally take longer.
Who can be an executor of a deceased estate in South Africa?
Any person over 18 who is not disqualified under the Administration of Estates Act can be nominated as executor in a will. The Master of the High Court appoints the executor and issues letters of executorship. For estates above R250 000, the executor must provide security unless exempted by the will or the Master.
Related services
Get fiduciary advice from Bizztax
Contact Bizztax Accountants for will drafting, estate planning and deceased estate administration services across South Africa.