At Ramdhani and Associates, we are experienced in providing representation for clients who have Estate Administration Issues. Whether it is issue relating to a will, or intestacy, we can guide you through the court process, the payment of the deceased’s funeral and other expenses, as well as the distribution of the Estate’s property in accordance with the will or the rules of intestacy.
We offer advice and assistance in all aspects of Estate Planning. In this regard we can guide through the Process of executing a Will. A ‘Will’ reflects the formal expression of the wishes of a person, with regard to how his estate is to be dealt with upon his demise; who is to be his executor(s), and how his property is to be distributed. It is always important to ensure that a Will remains current, so that as the years go by, updates may be necessary.
Some of Our services include:
- The preparation of wills and codicils
- Advice on estate planning
- Drafting and registration of Deeds of Trust
- The Application for Letters of Administration
- Recovering Debts owed the Deceased’s Estate
Winding up deceased estates
Several Ways Assets Can be Dealt With
- Wills –This is the traditional and still the most commonly used method of any estate plan for the transfer of assets. Where the estate is comprised of many assets or non traditional assets, it is always preferable that you get good legal advice. It is also a real necessity that will be revised or updated from time to time as assets are disposed of and new ones acquired, or even wishes change as to how property is to be dealt with by those you wish to benefit.
- Joint ownership –The region generally recognizes joint ownership of property. Registration of assets in joint ownership is one of the simplest ways to transfer assets. Joint Tenancy with Right of Survivorship when one party dies, ownership is automatically transferred to the surviving party. There are still a number of tax issues which may arise here.
- Transferring assets During your Lifetime by way of Gifts –This is increasingly becoming a more utilized method of transferring property. There are still some tax issues involved, but it allows you to personally be involved in the disposition of your assets. Concerns have always been that often the owners of the gifted property may act in a way which you are not happy with. The solution has often been to create trusts with benefits to you during your lifetime. (See No. 5)
- Testamentary trusts –There is also testamentary trusts which takes effect at death and becomes part of the Will. It allows ownership of assets to be transferred while control of the assets is determined by the provisions of the trust.
- Living trusts –Let us advice you on the various methods a living trust may be created while you are alive and the many reasons why they are used. This is a valuable tool in estate planning and property transfer while providing a significant protection mechanism for you.