Resources On-Demand

Global Estate Planning in the Digital Era - 2021 (Part 2)

This webinar on demand is part of a series of webinars. Click here to read more

Overview

Estate planning is a strategic exercise and should take a multitude of factors into account. The instances of cross-border and digital investment have increased at a rapid pace over recent years. Asset ownership in foreign jurisdictions and digital assets are now key considerations when planning an estate. 

In this series, we will look at the critical aspects to be considered by the various parties involved in estate planning, with a focus on estate planning within the international and digital landscapes. This series consists of two parts (each webinar can be attended independently):

Webinar content

International Estate Planning in the Digital Era: Estate Duty and other Administrative Issues 

What are the Estate Duty implications and administrative considerations when estate planning within the international and digital landscape?

• Social media and its impact as a digital asset:
  • Guidance on Facebook succession rules if not logged in for 1 year.
  • Facebook and its associated social media platforms – lack of uniform rules.
• Exchange control considerations for South African residents inheriting foreign assets:
  • Using new loop rules to ensure no USA throwback tax.
  • Using loop rules to side-step a South African estate administration nightmare.
• The Liquidation and Distribution Account, foreign assets and SARS return REV 267.
• Tax roll-over consequences where a spouse is a non-resident.
• Administration issues – foreign wills and foreign trusts.
• Non-resident ownership of immovable property in South Africa (Section 25 of the Administration of Estates Act).
• Are there alternatives to foreign trusts?
• Liability for Estate Duty when a policy is paid out to a foreign ‘new’ family member who is a non-resident.
• Can you escape Estate Duty on certain foreign policies?
• The status of international pension plans – are they Estate Duty free?
• Unclaimed retirement fund contributions – deemed asset considerations:
  • What are the implications if you tax emigrated?
  • Proposed section 9HC – tax on retirement funds held by non-residents:
    • Tax and 7% interest not paid yet – is this deductible for estate duty purposes?

• Guest speaker: Focusing on African family businesses:
  • What are the typical challenges we face?
  • Helping African family businesses with family wealth, estate, and succession planning and to design and institute family governance and/or family constitutions.

Click here to book for the Full Series.

Who should attend?

Tax managers/consultants, heads of tax, professionals involved in estate planning or administration of estates.