Deceased Estates: Overview

Dealing with death and assets is always a challenging affair. From ensuring that the assets are distributed as intended to dealing with the administrative realities of winding up an estate, we need to ensure that the paperwork is correct. In particular, executors of an estate need to understand how wills and intestate succession work to ensure that the wishes of the deceased are met. Executors would also need to ensure that all obligations are met, including the requirements of the master and SARS. The aim of this three-part series is therefore to discuss the requirements of the Administration of Estate Act, the Wills Act, the Intestate Succession Act as well as the tax liabilities of the estate.

Webinar 1: Wills and Intestate Succession

Ensuring that your wishes are followed once we pass on is a concern for all of us. In this webinar, the following will be unpacked:

• What are the requirements for a valid will?
• What terms can be in a will?
• What happens if my will is invalid?
• How does Intestate succession work?

22 November 2022 I Click here to read more.

Competencies developed in this webinar

After attending this webinar, you will be:

• Informed about the legal requirements of drafting a valid will.
• Able to advise on the interplay between wills and intestate succession.
• Up to date with the latest case law surrounding inheritances.
• Informed about how intestate succession works and be able to apply it.

Webinar 2: Administration of Deceased Estates

This webinar is aimed at providing an overview of the processes and responsibility related to the administration of a deceased estate. It will look at the legal requirements as well as the responsibilities of the executor.

This webinar will cover the following areas:

• Who needs to register the estate?
  • Forms required by the master’s office.
  • Responsibility of the executors.
  • An overview of the L&D account.

29 November 2022 I Click here to read more.

Competencies developed in this webinar

After attending this webinar, you will be:

• Able to comply with the requirements of the Administration of Estates Act.
• Informed about the master's process for deceased estates.
• Updated on your responsibilities as an Executor.
• Informed on how an L&D is to be drafted.
• Competent with a high-level understanding of how different types of marriages can impact an L&D.

Webinar 3: Death and Taxes

Understanding the real consequences on the death of an individual gives us the opportunity to plan effectively.

This webinar will look at the income taxes that arise on death as well as the estate duty consequences:

• Calculation of an income tax return in the year of death.
• Administrative responsibilities in the year of death.
• Understanding the consequences of different investment types for the calculation of estate duty.
• Calculation of estate duty.

7 December 2022 I Click here to read more.

Competencies developed in this webinar

After attending this webinar, you will be:

• Able to complete the income tax return of a deceased individual and an estate.
• Competent to calculate and complete an estate duty return.
• Informed on how these taxes differ from a standard income tax return.

Presenter

Carmen Westermeyer

BCom (Honours Accounting) [UND] CA(SA)

Carmen Westermeyer graduated in 2001 from the University of Natal, Durban (now UKZN), with a BCom Honours degree in Accounting and completed her articles with PwC in 2004. She has been a member of SAICA since then.

Carmen stayed with PwC for a year as Assistant Manager, venturing into the world of commerce in 2006. In 2008, she was appointed as a lecturer at UKZN and coordinated the Taxation 300 course until December 2010. From 1 January 2010, Carmen took over the role of Academic Leader for the Taxation Department, as well as the coordination of the Postgraduate Taxation Programme. During her time as Academic Leader she had numerous opportunities to liaise with SAICA on issues relating to the ITC, as well as being a member of the Tax Committee.

In December 2012 she started running ad-hoc training courses for members of the profession. From December 2013, she moved into commercial training and consulting on a full-time basis. She has been involved in various training activities, such as the SAICA SMP training in 2014 and the FASSET Budget and Tax Update in 2015 and 2016.

CPD

This event and successful completion of the online assessment will secure 2 hours verifiable output tax CPD points per session.

Event investment

Free for 2022 Tax Practitioner, Tax Accountant and Practice Package CPD subscribers. Not a CPD subscriber yet? Click here to register now.

CPD subscribers, please note: Once you've booked for the full series, you will automatically be added to each individual webinar in the series, so no need to book there as well.

25% discount on full series

Regular price:  R1 113.75

SAIT member price: R888.75

Group price 1 (max 5 people): R2 137.50

Group price 2 (max 10 people): R4 050.00

Group price 3 (max 15 people): R5 625.00

Per webinar

Regular price: R495.00

SAIT member price:  R395.00

Group price 1 (5 people max): R950.00

Group price 2 (10 people max): R1 800.00

Group price 3 (15 people max): R2 500.00

Payments and cancellations

• All payments must be made by EFT or by credit card, at least three working days before commencement of an event.
• Kindly note that should payment not be received two days after the event, legal action will be taken.
• Proof of payment will be requested upon registration if payment does not reflect on The Tax Faculty’s bank account.
• Only written notice of cancellation will be recognised.
• Conditions:
  • If the cancellation occurs more than four working days prior to the event, no cancellation fee will be charged.
  • If the cancellation occurs less than four working days prior to the event a 100% cancellation fee will apply.
• Delegates who book and fail to attend will be liable for the full event fee.
• The Tax Faculty’s liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
• Please click here for the full terms and conditions.