Lewenspolisse, huwelike binne gemeenskap van goed en die berekening van boedelbelasting

[摘要] The treatment of life insurance policies in deceased estates and the effect thereof on marriagesin community of property is the cause of various problems for executors. In terms of section3(3) of the Estate Duty Act 45 of 1955 life insurance policies are deemed to be assets of thedeceased. Consequently life insurance policies are reflected in the estate duty addendum ofthe deceased estate.Life insurance policies however are not always reflected in the liquidation account of thedeceased estate as assets, notwithstanding the fact that life insurance policies are deemed tobe assets for estate duty purposes. In this regard a distinction should be made between twosituations: firstly where life insurance policies are reflected in the liquidation account of theinsured estate and secondly where life insurance policies are not reflected in the liquidationaccount of the insured.For spouses married in community of property this creates a problem especially when you keepin mind that life insurance policies are in many instances a person's biggest monetary asset.When life insurance policies are reflected in the liquidation account of the insured, the survivingspouse has a claim on half of the policy proceeds. When life insurance policies are notreflected in the liquidation account of the insured, the surviving spouse has no claim on thepolicy proceeds.The problem that arises in this regard is that there is no certainty as to what extent lifeinsurance policies should be included in the calculation of estate duty, and how these policiesmust be reflected in the estate of the deceased. This uncertainty has been perpetuated bycourts. This research will illustrate how the courts came to different conclusions where the factswere more or less similar.

[发布机构] North-West University