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Owned by Francois

LawLab

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Welcome to LawLab: A community where everyone is welcome to get trusted DIY legal advice on property, wills, estates, and more.

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23 contributions to LawLab
Taking a break...
We have decided to put LawLab on 'ice' for now. It is still part of our dream and plan. You can still contact us via our website, www.francoisvorster.com. For now we will cancel all the subscribers from our side. We will definately let you know when we will be fully up and running again. Thanks for all the support. ~Francois
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Drawing up a will while doing transfer
Can one make out a will on a property you have inherited while you are still in the process of doing the transfer. Or should the transfer process be first completed to do so. Please advise.
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New comment Oct 17
0 likes • Oct 17
You can absolutely make a will. The will will govern everything that is part of your estate even though it must still be transferred to it.
Did you miss my conversation with Corné Bouwer?!
Yesterday I had the privilege to discuss a few important aspects of financial planning and estate planning with Corné Bouwer of Heptagon Capital. He is also very busy on TikTok. The video is below and in the free Course in the Classroom. We discuss: - the difference between life cover that pays to the estate and to beneficiaries - cash issues at death - the importance of pension funds, provident funds, and retirement annuities Have a look and let me know which questions you'd like us to discuss in the next live.
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Did you miss my conversation with Corné Bouwer?!
Transfer of property
I am an only child and both my parents are deceased. They were married in Community of property. While they were still alive they had a mutual will drawn up that stated if one of them dies then the surviving spouse inherits the property and when the surviving spouse dies then I inherit the property. When my dad died my mom did not transfer the property into her name as she was not financially able to do so. When my mom died I fully inherited the property as well as all the assets in it. I am now in a position where I have to pay the transfer from my dad into my mom's name and then I must still pay it onto my name as well which is a huge amount. I always thought I could just pay one transfer from my dad into my name but was told it cannot be done like that. Please advise as to what my options are in this matter.
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New comment Sep 26
0 likes • Sep 26
Thank you for your message @Sandra Nicolaai. That is one of the biggest misconceptions regarding deceased estates and it causes so many problems. That's also why estate planning and financial planning is imperative to provide cash for when you pass away. So, the following must happens: 1. The joint estate must be administered at the time of your father's death. 2. Property must be transferred to mother. 3. Mother's estate must be administered as at the time of her death. 4. Property must be transferred to you. Every step costs money. Unfortunately we can't skip steps. Each step has legal implications and must be done. The only other option would be to sell the property to provide the necessary cash. Let me know if you need any assistance.
Live Chat with Financial Advisor, Corné Bouwer
I'm hosting Corné Bouwer in a free Live Chat on 26 September @ 13h30. The link is in the calendar. Corné is a financial planner at Heptagon Capital. You most probably have seen him on TikTok as well as CornéFin. Have a look at his videos here: CornéFin. Join the live to ask your questions. We will discuss: - Financial Planning. - Estate Planning - How to pepare your finances for when you pass away. - What types of financial planning must you have in place? I will post the recording in the classroom afterwards for easy reference. See you there.
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Francois Vorster
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@francois-vorster-4167
Property Transfer Attorney & Notary. Here to learn, to grow and unlock insane amounts of clarity!

Active 2d ago
Joined Jun 19, 2024
ISTJ
South Africa
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