Sue Torr
A financial planner is often a lifelong partner, so understanding how their practice is structured is important. Ask who will manage your portfolio if your advisor is unavailable or leaves the firm. Is there a succession plan in place? Does
In the event of your death, your Will can only deal with your half of the joint estate, making it essential to ensure that your Will is limited to distributing only your share of the assets.
Regardless of your net worth, it is always advisable to put a valid Will in place to ensure that your loved ones are not faced with administrative hassles in the event of your death. At the same time, you may
In the event of your death, the funds held in your retirement annuity, that have met the criteria to qualify as a deduction against your taxable income, do not form part of your deceased estate and are not included when
The way in which your trust will be taxed depends on several key factors, including the type of trust you establish, whether it qualifies as a special trust Type A or B, how the trust deed is drafted, and how
ncome protection benefits are designed to cover a percentage of your salary—usually up to 100% of your net taxable income. Some people consider multiple policies for added protection, but keep in mind that income protection is intended to cover actual
To qualify for estate duty exemption on a buy-and-sell policy, the policy must be taken out by a co-owner of the business with the deceased and be specifically intended to purchase the deceased shareholder’s business interest.
The birth of a child introduces significant responsibilities and a need to reassess your financial plan. Notably, your Will should be updated to nominate a legal guardian and to provide for a testamentary trust to protect your child’s inheritance should
In most cases, your group life and disability cover will fall away once your retrenchment takes effect, so it’s important to secure cover in your personal capacity. The underwriting process can be lengthy, particularly if medical underwriting is required—so begin
