How Can I Appoint a Guardian for My Minor Children in My Will?
In your will, you can nominate a guardian to care for your minor children (under 18) if both parents pass away. The nomination is advisory, but courts typically honor it unless it’s not in the child’s best interest.
What Happens to Minor Beneficiaries’ Inheritance in a Deceased Estate?
A minor’s inheritance is held in a trust, the Guardian’s Fund, or managed by a guardian until they turn 18. The Executor ensures funds are protected and used for the child’s benefit, per the will or law.
Need to secure your children's inheritance? Louwrens Koen Attorneys can assist.
What Is the Guardian’s Fund, and When Is It Used?
The Guardian’s Fund, managed by the Master of the High Court, holds inheritances for minors without a trust until they reach 18. It’s used when the will doesn’t specify a trust or guardian-managed funds.
Have minor heirs? Louwrens Koen Attorneys can explain your options.
Can a Trust Be Set Up for Minor Beneficiaries in an Estate?
Yes, a testamentary trust created by the will can hold a minor’s inheritance, managed by trustees for their care, education, or other needs. This avoids the Guardian’s Fund and offers more control.
Considering a trust? Louwrens Koen Attorneys can tailor a solution.
Who Manages a Minor’s Inheritance if There’s No Will?
In intestate estates, the Master’s Representative places a minor’s inheritance in the Guardian’s Fund or appoints a guardian to manage funds, following the Intestate Succession Act and Children’s Act.
No will in place? Louwrens Koen Attorneys can guide you.
Can a Guardian Access a Minor’s Inheritance for Their Upkeep?
Yes, a guardian can apply to the Guardian’s Fund or trust trustees for funds to cover the minor’s maintenance (e.g., education, healthcare), subject to approval and the child’s best interests.
What Happens if a Nominated Guardian Cannot or Will Not Act?
If a nominated guardian declines or is unfit, the High Court appoints a guardian based on the child’s best interests. You can name alternate guardians in your will to avoid this issue.
Are There Tax Implications for a Minor’s Inheritance?
A minor’s inheritance is exempt from personal income tax but subject to estate duty as part of the estate’s net value. Income from inherited assets (e.g., investments) may be taxable.
How Can I Ensure My Minor Children Are Protected in Estate Planning?
Draft a will nominating a guardian, create a testamentary trust for their inheritance, and specify how funds should be used (e.g., for education). Regular updates ensure your plan remains relevant.
Can a Minor Beneficiary Contest a Will or Estate Distribution?
Minors can contest a will through a guardian or legal representative if unfairly excluded or if the will is invalid. Claims under the Maintenance of Surviving Spouses Act may also apply for dependents.