Momentum Trust FAQs

Calculating the value of your estate involves adding up the total value of everything you own (assets) and subtracting any debts or liabilities you owe. It’s also important to consider estate duties. You can use our estate duty calculator to estimate the value of your estate and partner with a financial adviser for an estate plan that covers and protects your estate’s value when you pass away.

An estate plan benefits anyone who owns assets or earns an income by allowing you to maintain control over how your assets are managed, preserved, and distributed, especially in the event of death. It provides legal and financial security for your beneficiaries, while helping to prevent potential conflicts among loved ones.

It's advisable to seek the guidance of a professional to assist with drafting your Will as your Will is the only legal document that deals with all of your assets. Your Will and your financial plan should "talk" to each other. Rather have a specialist draft your Will that is legally correct and in accordance with your wishes.

We can assist with drafting a Worldwide Estate Will however, due to different legal systems in certain countries, it's advisable to discuss this with your financial adviser.

Draft a free and valid Will online on the secure Momentum platform. Consult with a financial adviser to make sure it is executable.

Momentum’s Estate Provider Benefit doubles up as an all-inclusive estate plan that offers Will drafting services, a professional fee benefit, an instant cash amount paid to your nominee after a death claim, and a death benefit worth R300 000 or more. To find out more about these benefits, you can request a call back for a financial adviser to schedule a consultation to understand how the Estate Provider Benefit can meet your specifics needs.

Yes, the instant cash benefit is 10% of the minimum Estate Provider Benefit needs, limited to a maximum of R50 000.

The life cover will cover the following costs incurred in your estate: conveyancing fees, testamentary trust fees (established in the client's will and registered upon their passing), funeral costs, executor's fees, master's fees, advertisement costs, final expenses, vehicle transfer fees, firearm transfer/safe custody costs, and tax return fees.

Any amount not used to pay for the costs involved in winding up your estate, is paid back to your estate.

You will always need a Will but you will not always need a Trust. If there are minor beneficiaries or beneficiaries with special needs that could inherit from your Estate, it is advisable to have a Trust in place. Speak to your financial adviser to find out if you need a Trust, and which Trust structure will be best suited to your requirements.

You can nominate a responsible adult over the age of 18 or a professional Trust Administrator such as Momentum Trust. For added expertise and peace of mind, it’s recommended choosing to nominate a professional Trust administrator or Trustee to ensure the Trust is managed properly and in the best interests of the beneficiaries.

No, a Trust cannot exist without beneficiaries. In South African law, a Trust must have clearly identifiable beneficiaries. The core purpose of a Trust is to manage assets for the benefit of someone else, so without beneficiaries, there’s no valid reason for the Trust to exist.

Failing to report a deceased estate can lead to legal and financial consequences, including penalties for unpaid taxes and frozen assets. It can also delay inheritance for beneficiaries, increase the risk of family disputes, and ultimately result in court intervention to settle the estate. Promptly reporting and administering the estate ensures the deceased’s wishes are respected and helps avoid unnecessary complications.

You can nominate a person older than 18 years of age or a professional executor such as Momentum Trust. The nomination of executor in terms of your Will is a very important decision and can have a huge impact on the finalisation of your estate. You should make sure that the person or entity is best qualified and has the required experience in dealing with deceased estates and if not, this can have dire consequences in the finalisation of the estate, as well as not attaining the goals that you may have had in mind when drafting your Will. A family member that has never administered an estate should not be burdened with the responsibility as it will not only cause delays but could possibly lead to financial loss.

The cost to settle a deceased estate in South Africa varies based on the estate's value and complexity.

A deceased estates can be tracked online through the Master’s Office’s ICMS Web Portalopen_in_new. You can also contact the appointed executor for updates.