Make a meaningful difference
When the time comes, you want to leave a legacy that not only reflects your wishes, but also provides your loved ones with better financial outcomes.
You can – by making a difference to your favourite charity and remembering them in a specific way with a YFC Codicil (Your Family and Charity Codicil).
Crucial component of effective estate planning
For estates with net assets over R3.5 million
Eliminates tax on tax
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By structuring your estate duty correctly
Heirs can receive up to 8% more
Depending on your chosen generosity factor
Favourite charities benefit from tax savings
Without taking away from your heirs' inheritance
How the YFC Codicil creates a more efficient tax structure
The traditional estate administration approach
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Estate duty is assessed on the assets remaining after estate liabilities, estate administration costs and the tax-free assets of R3.5 million have been deducted
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The estate duty is included in the remaining assets
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The estate ends up paying tax on tax as a result
The YFC Codicil approach
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It specifies what heirs receive, leaving a residue in the estate from which the estate duty and charity benefit must be paid
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The residue is a deduction before taxation
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The residue to the charity is tax deductible
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Tax is always paid first from the residue and the rest is left for your charity
Choose a charity and generosity factor
Your charity needs to be a recognised Public Benefit Organisation (PBO) in order for your estate to receive the tax benefit.
You need to choose a generosity factor from 1 too 100, which is a percentage of the amount left in the residue after the estate duty has been paid.
YFC Codicils are risk-free
100% Confidential
You don't need to ever disclose your wealth, heir or will details
100% Guaranteed
Your heirs will never receive less than they would have under your original will
100% legal
The precedence is per court judgment
100% Tested
Has successfully been used in assessed estates
