The primary objective of estate planning is to meet the short-term and long-term financial needs of the planner and to ensure a smooth transition of the planner's estate on passing on, in keeping with the needs and wishes of the individual. The implementation of an estate plan does hold many tax advantages and care should be taken to ensure that in the process of tax structuring, we do not lose sight of other important objectives and wishes of the client, as well not contravene any legislation which may render the tax benefits null and void. Estate Duty is levied on an estate at a flat rate of 20 % on the net value of an estate and the planner needs to ensure that his financial affairs are structured in a manner to take maximum advantage of the deductions and abatements available. This will ensure that the duty payable is kept to a minimum. In the process of estate planning the planner must always be aware of the other taxes that could reduce or negate the intended estate duty savings for example donations tax, capital gains tax and income tax. There are many estate planning techniques that can be implemented to meet the objective of a smooth transition of the estate as well as being tax efficient. The nature of everyone's affairs and potential estates vary considerably. As a result there are fairly simple techniques for planners with uncomplicated financial affairs. These would normally be appropriate to salaried employees and smaller business owner's who do not amass a large estate over their lifetime. For high net worth individuals the techniques can be fairly complex, integrating the setting up of companies and/or trusts in order to achieve the planner's objectives and tax efficiency. Due to the specialized and complex nature of certain entities specific estate planning techniques have been designed. With the relaxation of exchange control regulations many South African residents now have offshore assets which form part of their dutiable estate. Careful consideration has to be given to this area since it can be complex with different rules applying to different offshore centres. This is dependant on whether South Africa has a double taxation treaty with that country or not. Income tax and estate planning are inter-related and structures designed to reduce estate duty may have differing consequences from an income tax point of view. This occurs in particular when the use of trusts and donations are envisaged and care should be taken that cognizance of all the anti-avoidance provisions of the Income Tax Act are carefully considered. We can be certain of two things in life "death and taxes". The timing of one's death is an unknown mystery but tax is defined in terms of legislation. With careful planning one can take maximum advantage of the available "tax breaks" with the flexibility to react to changes in legislation, so that the plan can always meet the wishes of the planner irrespective when he/she may pass on (Personal Finance:2004) / Thesis (M.Com.)-University of KwaZulu-Natal, 2004.

No abstract available. / Thesis (M.Acc.)-University of Durban-Westville, 2002.

Digitized by Kansas Correctional Industries

Thesis (Ph. D.)--Open University. BLDSC no. DX86240.

The Mineral and Petroleum Resources Development Act introduced a new mining law dispensation. This Act has implications for mineral right holders. Up to 1 May 2004, the right to prospect or mine vested in the holder of the mineral right concerned under the system of private ownership as set out in the Minerals Act 50 of 1991. The 2002 Act which is premised on the principle that minerals as a natural resource are part of the natural heritage of all South Africans, eliminates the concept of private ownership of mineral rights and vests the right to prospect or mine exclusively in the state. Mineral rights were always assets in the estate of a person and were handled in the administration of the estate. The question is whether mineral rights and royalties are still assets of the estate under the 2002 Act. New applicants under the 2002 Act will have to apply directly to the state for the right to prospect and mine, regardless of the identity of the previous holder of the relevant right. Holders of existing (old order) rights will have an opportunity to ensure the ongoing validity of these rights by complying with the conversion criteria contained in the 2002 Act. New order rights issued or converted under the 2002 Act differ from old order rights insofar as their duration, transferability, mortgage ability and the royalties payable thereon. Although the new order rights are still referred to as limited real rights in article 5 of the 2002 Act, these converted rights are more restricted in content. These new order rights cannot be ceded, transferred, let, sublet, assigned, alienated or otherwise disposed of without the written consent of the minister. Except for the transitional arrangements in Schedule 2, the 2002 Act would terminate the notion and use of the vehicle of mineral rights. When comparing the new order rights to the old order rights, the question of deprivation and expropriation arises. It is not clear exactly when a claim for compensation for expropriation of property arises and what the term of the period of prescription would be. The duration of the new prospecting right and mining right are statutorily regulated. In drawing a comparison between the old order and the new order rights, a distinction may be drawn between: (a) Situations where the holder of the old order right would be successful with his application for conversion to a new order right; (b) Situations where the holder of the old order right was unsuccessful with the application for a conversion of rights; (c) Situations where the holder chooses not to apply for conversions at all. Financial benefits to be derived from former mineral rights are also affected. The right to receive royalties may be protected under the constitutional property clause and a withdrawal of these rights from the private sphere and the assignment thereof to the state may represent a deprivation of property in the constitutional sense. Royalties to communities and natural persons may continue to them after the 2002 Act, but the position of legal entities and trust remain insecure. All these changes will affect the estate and the estate planning of the landowner and the holder of mineral rights. In this mini-dissertation all the important provisions regarding estate planning will receive attention. Transferability of the new order rights, royalties, and the effect of the new law on the value of property in the estate, will be looked at. / Thesis (LL.M. (Estate Law))--North-West University, Potchefstroom Campus, 2005.

The Mineral and Petroleum Resources Development Act introduced a new mining law dispensation. This Act has implications for mineral right holders. Up to 1 May 2004, the right to prospect or mine vested in the holder of the mineral right concerned under the system of private ownership as set out in the Minerals Act 50 of 1991. The 2002 Act which is premised on the principle that minerals as a natural resource are part of the natural heritage of all South Africans, eliminates the concept of private ownership of mineral rights and vests the right to prospect or mine exclusively in the state. Mineral rights were always assets in the estate of a person and were handled in the administration of the estate. The question is whether mineral rights and royalties are still assets of the estate under the 2002 Act. New applicants under the 2002 Act will have to apply directly to the state for the right to prospect and mine, regardless of the identity of the previous holder of the relevant right. Holders of existing (old order) rights will have an opportunity to ensure the ongoing validity of these rights by complying with the conversion criteria contained in the 2002 Act. New order rights issued or converted under the 2002 Act differ from old order rights insofar as their duration, transferability, mortgage ability and the royalties payable thereon. Although the new order rights are still referred to as limited real rights in article 5 of the 2002 Act, these converted rights are more restricted in content. These new order rights cannot be ceded, transferred, let, sublet, assigned, alienated or otherwise disposed of without the written consent of the minister. Except for the transitional arrangements in Schedule 2, the 2002 Act would terminate the notion and use of the vehicle of mineral rights. When comparing the new order rights to the old order rights, the question of deprivation and expropriation arises. It is not clear exactly when a claim for compensation for expropriation of property arises and what the term of the period of prescription would be. The duration of the new prospecting right and mining right are statutorily regulated. In drawing a comparison between the old order and the new order rights, a distinction may be drawn between: (a) Situations where the holder of the old order right would be successful with his application for conversion to a new order right; (b) Situations where the holder of the old order right was unsuccessful with the application for a conversion of rights; (c) Situations where the holder chooses not to apply for conversions at all. Financial benefits to be derived from former mineral rights are also affected. The right to receive royalties may be protected under the constitutional property clause and a withdrawal of these rights from the private sphere and the assignment thereof to the state may represent a deprivation of property in the constitutional sense. Royalties to communities and natural persons may continue to them after the 2002 Act, but the position of legal entities and trust remain insecure. All these changes will affect the estate and the estate planning of the landowner and the holder of mineral rights. In this mini-dissertation all the important provisions regarding estate planning will receive attention. Transferability of the new order rights, royalties, and the effect of the new law on the value of property in the estate, will be looked at. / Thesis (LL.M. (Estate Law))--North-West University, Potchefstroom Campus, 2005.

Thesis (M. Sc.(Urb. Plan.))--University of Hong Kong, 1995. / Includes bibliographical references (leaf 216-221).

Estate planning is an important exercise aimed at increasing, preserving and protecting assets during a person's lifetime and providing for the disposition and continued utilisation of these assets after his death. The minimisation of estate duty, however, often dominates the motivation behind estate planning and many of the tools, structures and techniques used as part of the estate planning exercise are aimed at reducing or avoiding estate duty. One of these tools is the trust. In the 2010 Budget Review National Treasury suggested that taxes upon death should be reviewed. Such review may result in estate duty being abolished. Should this happen, the motivation behind many estate plans will dissipate and many estate plans that mainly focussed on estate duty will become ineffective. The question that comes to mind is whether trusts have a future as estate planning tools. Estate planning involves many different objectives and many of these objectives can be achieved through the use of trusts. Trusts have multiple benefits and only if a trust was set up solely to reduce or avoid estate duty, will such trust become superfluous. When looking at the use of trusts in countries that do not levy estate duty (such as Australia, Canada and New Zealand), it is clear that trusts remained useful and popular in these countries even after estate duty had been abolished. This is a strong indication that trusts have a future in South Africa and that the abolishment of estate duty will not affect the usefulness and popularity of trusts. / Thesis (M.Com. (South African and International Taxation))--North-West University, Potchefstroom Campus, 2012.

Estate planning is an important exercise aimed at increasing, preserving and protecting assets during a person's lifetime and providing for the disposition and continued utilisation of these assets after his death. The minimisation of estate duty, however, often dominates the motivation behind estate planning and many of the tools, structures and techniques used as part of the estate planning exercise are aimed at reducing or avoiding estate duty. One of these tools is the trust. In the 2010 Budget Review National Treasury suggested that taxes upon death should be reviewed. Such review may result in estate duty being abolished. Should this happen, the motivation behind many estate plans will dissipate and many estate plans that mainly focussed on estate duty will become ineffective. The question that comes to mind is whether trusts have a future as estate planning tools. Estate planning involves many different objectives and many of these objectives can be achieved through the use of trusts. Trusts have multiple benefits and only if a trust was set up solely to reduce or avoid estate duty, will such trust become superfluous. When looking at the use of trusts in countries that do not levy estate duty (such as Australia, Canada and New Zealand), it is clear that trusts remained useful and popular in these countries even after estate duty had been abolished. This is a strong indication that trusts have a future in South Africa and that the abolishment of estate duty will not affect the usefulness and popularity of trusts. / Thesis (M.Com. (South African and International Taxation))--North-West University, Potchefstroom Campus, 2012.

This study determines the impact of ESTA on estate planning. The researcher indicates the extent to which ESTA alters the traditional property concept and analyses the practical implications of ESTA on estate planning. It appears, from the research that the traditional property concept has developed to include rights in property which are inferior to traditional ownership. The land reform process creates new rights which are afforded constitutional protection. These new rights create tension between land owners' perception of what their ownership entails, and the reality. The writer attempts to indicate that estate planning may minimize the possible disadvantages of ESTA. / Thesis (LL.M. (Estate Law))--North-West University, Potchefstroom Campus, 2006.