Sue Torr
The owner of a living annuity, referred to as the annuitant, can nominate one or more beneficiaries – whether individuals, trusts or even charities – to receive the remaining value of their living annuity in the event of their death.
If you and your minor child’s other parent have parental responsibilities and rights, you are considered by law to be the child’s natural guardians which include a legal duty to support the child. This is because the duties of a
In terms of the doctrine of ademption, specific bequests lapse when the asset no longer exists. This can happen when the testator sells, gives away or otherwise disposes of an item before they die. Unless the will provides for substitution
While many South African investors make use of retirement funds to build wealth for their retirement years, many do not take the opportunity to structure their contributions in a pre-tax manner – which can inadvertently affect the growth of one’s
A couple planning to get married should sign their antenuptial contract before getting married. Failure to sign an antenuptial contract prior to the date of marriage will mean that you and your partner will automatically be married in community of
Saving is essential for a number of reasons. Firstly, it provides a safety net in the face of unexpected events such as retrenchment, medical emergencies, or urgent home repairs. Without access to readily available savings, many people turn to high-interest
If it’s been several years since you implemented your disability cover, ensure that your insurer has been kept up to date with any changes in your lifestyle, occupation, or health. For example, if you’ve started smoking, changed careers, or taken
Many parents—especially those with multiple children—struggle to determine how best to distribute an inheritance. In this regard, it’s helpful to consider the difference between equal and equitable.
In terms of the Long-term Insurance Act, the annuitant may nominate one or more beneficiaries to receive the remaining value of the living annuity on death, meaning that a living annuity is both a tax-efficient estate planning tool and an
International markets offer South African investors access to industries and sectors that are largely underrepresented or absent locally, including biotechnology, semiconductor manufacturing, aerospace and defence, electric vehicle production, and cloud computing infrastructure – with these sectors often being at the
