As Zimbabweans continue to spread globally, managing estates from afar presents unique challenges. Vengai Madzima, Senior Partner at MCM Legal in Zimbabwe, addresses these issues, focusing on wills, estate management, and legal strategies for diaspora Zimbabweans.
Many Zimbabweans abroad own substantial assets back home. However, they often neglect to formalize their wishes for how their estate should be handled. This lack of documentation can lead to confusion and disputes, especially when the surviving spouse is also overseas.
“Without clear instructions, managing an estate can become a complex process,” Madzima explains. “Surviving family members might face difficulties in selecting an executor and managing the estate.”
An estate comprises all the assets and liabilities owned by a person at the time of their death. The executor’s role is crucial: they must identify the estate’s assets and debts, settle any obligations, and distribute the remaining assets according to the will or legal guidelines.
A will allows individuals to specify how their assets should be distributed and who will manage their estate. “Having a will is essential,” Madzima asserts. “It minimizes disputes among relatives and ensures your wishes are honored.”
Wills can be challenged, often on grounds of legality or validity. To avoid such issues, Madzima advises seeking professional assistance when drafting a will. This helps ensure compliance with legal requirements, which can protect the will from being contested.
To safeguard against challenges, it is crucial to follow legal formalities closely. “Ensure your will meets all legal requirements,” Madzima advises. “This reduces the risk of it being contested. Additionally, keep copies with your lawyer or accountant, and register one with the Master of the High Court.”
Married individuals might consider joint or mutual wills, which can offer added protection and clarity.
If someone dies intestate (without a will), Zimbabwean law provides a framework for distributing their estate. Generally, the surviving spouse inherits the matrimonial home and household goods, while the remaining assets are divided between the spouse and children.
Complications can arise in cases of polygamous marriages or unknown heirs. “In such situations, the distribution process can become quite complex,” Madzima notes.
Some choose to establish family trusts as an alternative to traditional wills. Trusts allow for flexible asset management during the founder’s lifetime and beyond. “Trusts can offer benefits, such as estate duty savings and continued management of assets,” Madzima explains. “They provide a viable alternative for those looking to protect their estate more effectively.”
Managing estates from abroad involves understanding legal requirements and planning carefully. Whether through a will or a trust, proper legal guidance is essential to ensure that your assets are handled according to your wishes. For Zimbabweans living overseas, this planning can help avoid complications and ensure that their estate is managed smoothly, even from a distance.
Source: New Zimbabwe
