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E v E (4387/2017P) [2019] ZAKZPHC 40 (3 June 2019)

In this case, the court confirmed the approach of adopted by some courts and held that the commencement values stated in the ANC for the purposes of the accrual calculation is just prima facie proof of the values of the estates on date of marriage and that this applies between the parties to the marriage as well as to third parties. This confirms that these values are not set in stone and that evidenced can be produced to show the…

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Agu v Krige and Others (20763/2017) [2019] ZAWCHC 46 (28 March 2019)

The purchaser approached the court for an order compelling the seller to transfer to her the sectional title unit that she had purchased from him. The deed of sale required the purchaser to pay the full purchase price by a certain date to the seller’s attorney. The purchaser duly paid the amount into the attorney’s trust account and the attorney then misappropriated the money. The court held that the attorney was the agent of the seller for the purposes of…

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Joan Cynthia Griessel NO & others v De Kock (334/18) [2019] ZASCA 95 (6 June 2019)

A “potential beneficiary” of a family Trust had previously been permitted by the Trustees to access a holiday farm owned by the Trust (through a company) but, after a falling out with his family, was denied access to the farm by the Trustees. The court emphasised that Trustees have an obligation to treat all the beneficiaries even-handedly. It stated that as a beneficiary, the claimant had a right to be protected against arbitrary and discriminatory treatment and found that the…

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Pienaar v Master of the Free State High Court (579/10) [2011] ZASCA112 (01 June 2011)

In this case the court was faced with two Wills executed by the Testator a year apart. There was no express revocation (cancellation) of the earlier Will in the later Will. The court confirmed the general rule in this regard that, where a testator dies leaving more than one Will, the Wills must be read together and reconciled. The provisions of the earlier Will are deemed to be revoked in so far as they are inconsistent with the provisions of…

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Du Bruyn NO & others v Karsten (929/2017) [2018] ZASCA 143 (28 September 2018)

In this case the court reviewed the circumstances under which a lender has to register as a “credit provider” in terms of the National Credit Act. The court held that the Act applied not just to organisations and persons in the business of money lending but to any person making a loan that otherwise fell within the ambit of the Act and that they would be required to register as “credit providers” in terms of the Act. In the particular…

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Gavin Charlton Harvey NO v Georgina Elizabeth Crawford NO (1016/2017) [2018] ZASCA 147 (17 October 2018)

In this case the court viewed a Trust Deed to determine whether the Founder, in using the words ‘children’, ‘issue’, ‘descendant’, ‘legal descendant’ in the Trust Deed, intended to benefit adopted children and descendants. The court used the relevant law operative in 1953 when the Trust Deed was executed, being the 1937 Children’s Act, to interpret the Deed as excluding adopted children and descendants as adopted children and descendants were not expressly included in the Deed. The court believed that…

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Trinity Asset Management (Pty) Limited v Grindstone Investments 132 (Pty) Limited [2017] ZACC 32

The importance of this case is that the Constitutional Court held that for loans which are “repayable on demand”, the period of extinctive prescription of three years (within which you must issue summons for a claim for repayment) begins running from the date that the loan is made, not the date that demand for repayment is made. This is very important for loans between family members and for loans between Trusts and their beneficiaries as these are often considered to…

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WT & others v KT (933/2013)[2015] ZASCA 9 (13 March 2015)

The importance of this case is that the court held that if one of the spouses in a marriage in community of property had used a Trust as part of their Estate Planning to hold assets, the law would respect the Trust as being separate to that spouse and would not include the Trust assets as assets of the joint estate in divorce proceedings; provided the trust form had not been abused through fraud, dishonesty or an improper purpose. For…

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The value of art boils down to time, perception and sentiment

Page through any publication featuring ‘art’ and you are likely to see interviews and insights from a range of collectors such as celebrities, wealthy business people, enthusiasts and young collectors. Among the common questions asked in such interviews are “Who is your favourite artist?” and “Which piece in your collection do you love the most?” The answers to these questions also vary widely and, I suspect, are greatly dependent upon the size of the interviewee’s cheque book. What is consistent,…

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ART AND YOUR ESTATE

Art, something that not only brings much beauty and joy to our lives, is fast becoming an investment opportunity and one that needs careful consideration when it comes to your estate planning. Alfie Bester, Director at Legacy FS, answers some of the questions around this topic. 

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