Sue Torr
Income protection is a form of long-term insurance which is designed to replace your income if an illness or disability renders you unable to earn your income either temporarily or permanently. While many consider this type of cover to be
Most of us nominate our beneficiaries when first taking out a policy but seldom check that those nominations remain appropriate to our changed personal circumstances. Check your latest insurance policy to make sure that your nominated beneficiaries reflect your wishes.
Remember, the residue of your estate is what is left after all debts and estate costs have been paid, and after all, bequests have been made, so it is important to ensure that the inheritance intended for your heirs is
Endowments are complex investment policies that generally cater for investors with a marginal tax rate of 30% or more and can also make useful estate planning tools. As the policyholder, you can elect who the life assured and nominate beneficiaries
Your parenting plan sets out the details relating to care, contact and financial contributions towards the children, when and with whom the children will live, and where they will be schooled, amongst other things. The financial implications in terms of
When contemplating a trust structure, do not lose sight of the fact that running a trust adds a layer of complexity and costs to your financial affairs. When setting up a family trust, keep in mind that you will be
In the absence of an emergency fund, you may be forced to access debt in order to pay for the unforeseeable expense you are faced with, keeping in mind that short-term debt is normally expensive. Ensure that you always have
Through the retirement fund harmonisation process, the options at retirement have been streamlined across pension, provident and retirement annuity funds, although there remain certain technicalities when dealing with the vested benefits in respect of provident fund contributions made prior to
An effective way to ensure that your affairs can be protected and safely managed in the event of mental incapacity is through the use of an inter vivos trust, which is a type of trust set up during your lifetime,
The non-payment of maintenance forces many single mothers to incur ongoing legal costs and enter a cycle of debt – exacerbated by having to take time off work to attend maintenance court which in turn causes further loss of income
