What is a Will or Testament?
Your will or testament is a legal document by which a person, the testator, expresses their wishes about how their property is to be distributed at death, and names one or more persons, the executor, to manage the estate until s final distribution. Learn More Here
Will my liquor license expire when I pass away?
No. Your liquor license will not expire without a testament but it will be easier to proof who inherit the liquor licensed business.
What happens to my liquor license when I die without a will ?
Passing away without a will does not only affect your liquor license. Your estate will be frozen and the master of the supreme court will wind up your estate. In the meantime all your assets will be frozen which means your dependents will be in the hands of the master. Your estate can take many years to finalize and your dependents will have to wait until this is done before they can make use what should be theirs.
Drafting and signing and storing your will in a safe place is most properly the most important legal document you will ever sign.
Who becomes the new license holder ?
In the event that no will was left by the deceased the master of the supreme court will appoint an administrator who becomes the licensed person. Should the administrator of the estate decide it is in the best interest of the estate he can decide to continue trading the business but the license must be transferred to the proposed new holder in terms of section 74. Once the estate has been finalized the license will then once again be transferred to the person who inherits the business.
It is better, cheaper and quicker to start trading again if the deceased left a will.
Can the new rightful owner continue to trade.
Yes he or she can but application under section 68 must be made to the liquor authorities. KZNLA 17A must be completed in full and all required attachment must be attached. The application requires to same documents and criteria as a transfer from one person to anther person in terms of section 74.
Requirements to transfer license with a will.
New prospective holder must qualify and not be disqualified under section 40 of the Act. The applicant must write and attach a comprehensive representation to why license should be transferred to his name. The following documents must also be attached.
- A letter of executor ship or a copy of the will naming him as the new rightful owner.
- Death certificate of the current license holder.
- Permission to occupy.
- The current valid business license
- Copy of identity document – certified.
- Proof that renewal of license fees has been paid. License certificate for current year.
- Tax clearance of new proposed license holder.
- Police clearance of new proposed holder.
- Before application can be lodged a reference number must be obtained from the liquor authorities. Proof of payment of lodging fees must also be attached.
The application must duly be signed and commissioned before lodging.
Is your will legal?
It does often happen that a testament is not legal and it is strongly advised that your final will is made up in the correct way. By using an accredited attorney, bank or a facilitator will give you peace of mind.
Learn more about the legality and caveats of your testament HERE
Be prepared and make life easier for your loved ones you will be leaving behind by having a will drawn up and signed as soon as possible.