Sue Torr
We all know that delayed gratification is the foundation of wealth building: forgoing the immediate pleasure of spending in order to put money aside for the future. However, practice is different to theory and it’s not always feasible (nor enjoyable)
While the law allows you to appoint a family member or friend as your executor, the final decision rests with the Master of the High Court. If the Master deems your chosen executor insufficiently qualified, they may require professional assistance
Purchasing a sectional title unit also grants you full ownership, with the property registered in your name through the Deeds Office. Like freehold properties, you’ll be responsible for bond costs, transfer duties, and conveyancing fees.
Depending on the rules of the medical scheme, you may be required to move off your parents’ medical aid. If this is the case, do not allow your membership to lapse and ensure a smooth transition onto your own medical
Life cover can serve multiple purposes, such as securing your home loan, providing capital for a family member upon your passing, supporting the income needs of your spouse and children, settling unsecured debts within your estate, or ensuring liquidity so
While putting money away for your child’s education is important, do not neglect your retirement funding. Without adequate retirement funding in place, you could become a financial burden on your child later in life which should be avoided at all
A Living Will, also known as an advance directive, is a document that outlines a person’s wishes regarding medical treatment in situations where they can no longer communicate for themselves. It allows individuals to refuse certain life-sustaining interventions if there
The child’s guardian has the ability to claim funds from the Guardian’s Fund to cover essential expenses such as school and university fees, clothing, medical aid premiums, food, and maintenance costs. However, these claims are capped at R250,000 from the
It is important to keep in mind that there is no such thing in our law as a ‘common law spouse’, and no legal status is conferred on couples who choose to live together without getting married.
In the past, severe illness cover terminated at age 65. However, most insurers now provide you with the option to select whole-of-life cover which means that your benefit continues for as long as you are alive and paying your premiums
