Being a beneficiary of a deceased estate necessitates responsibility, and its ones last opportunity to honour the testator’s decisions as to how he wishes his wealth to be distributed. For these reasons, it is important to be aware of the situation you may find yourself in and to prepare for what could be a complex process.
You are facing one of three situations…each with its own solution:
1. If you’re a South African resident living temporarily abroad, (which is the most common situation), you have two options available to move your inheritance proceeds:
a. Financially emigrate from South Africa
b. Make use of your personal allowances, subject to limits and conditions
2. If you’ve financially emigrated from South Africa you’ll need to comply with SA exchange control regulations to be able to move the inheritance proceeds:
a. Direct the proceeds to your blocked bank account so that it can be freely transferred offshore
3. If you’re not a South African resident youâ€™ll need to prove that you were born outside the country and residing abroad
In a nutshell, if you live overseas and want to know the easiest way to receive your inheritance from South Africa all you have to do is ask us.