Deceased Estates in South Africa
Deceased estates can be confusing and difficult undertakings to manage, which is why planning ahead can offer greater control, efficiency, and privacy. Planning for deceased estates can be complex, but an informed accounting professional with experience in handling them can be one of the best ways to keep your assets and loved ones secure.
IC Quantum Accountants dedicates our time to working with all parties involved in deceased estates, from individuals and business owners to trustees, executors, and other related parties. We can help with tax planning and consulting, succession for businesses, formal and informal court accounting, and fiduciary tax preparation services.
We pay particular attention to:
- Liquidity needs
- Business interests
- Offshore assets
- Marital regimes and possible consequences after the client’s death
- Accrual claims
- Guardianship for minors
- Maintenance for dependents
- Dependents with significant medical care required
Why Working With A Professional Can Help With Deceased Estate Handling
At IC Quantum Accountants, we work with our clients to integrate specific strategies for deceased estate planning that will allow your family to get the most possible value out of an estate, develop a plan tailored to their unique circumstances, protect their assets after passing, ensure tax compliance, assist and guide them throughout the estate administration process, and help everyone understand what is happening.
If you are working through a deceased estate, we can step in and ensure that you are handling everything correctly and making the right legal decisions.
Deceased Estate Planning: Estate, Gift and Income Tax Planning
IC Quantum Accountants has a team of professional accountants who will work closely with your family to help settle deceased estates. When writing a deceased estate plan, we help to develop integrated plans that effectively align with your wishes. Our team can provide guidance regarding income taxation on trusts and estates in South Africa. We can also help you, if necessary, through the audit and settlement of estate, gift, generation-skipping, and fiduciary income tax returns.
Gifting: We work closely with clients to coordinate the preparation and fulfillment of gifts, estate, and generation-skipping tax returns for deceased estates. We can also help with both domestic and offshore fiduciary income tax returns. With our experience as accountants for businesses, we can also establish the value of businesses and other assets for estate and gift tax planning and administration.
Trust and Estates: We offer comprehensive administration and fiduciary services to trustees and executors, helping both parts of the deceased estates when applicable. This means that we take on collecting assets to ensure that all necessary income and estate taxes are filed and provide comprehensive accounting to the probate court as well as estate and trust beneficiaries.
Deceased Estates in Pretoria
We understand that there can be many different emotions and a fair amount of sadness as you are settling the estate of a loved one, especially if you are handling this alone or if it is the first time that you’ve done something like this. Our team is sympathetic and will work with you to ensure that everything is handled as delicately as possible. We provide a personal and efficient service to you during the settlement of the estate. Our team, which includes professional staff that is accessible and genuinely interested in assisting you during this difficult time, will walk you through every step of the process. We will never push you to make decisions you aren’t comfortable making just yet and can talk you through some of the common fears of settling deceased estates.
At the end of the day, your “estate” or the estate of the person that you loved, is more than just the total extent of property and possessions – it is part of a legacy. Estate Planning and deceased estate settlement are services necessary for everyone. Optimal Estate Planning and the closure of estates with IC Quantum Accountants, you will ensure that:
- Heirs enjoy the benefits promised to them
- The costs to estates are kept to a minimum
- The transfer of assets to heirs is simple and easy for all parties
- Complications are eliminated