Sue Torr
Remember, your severance benefit will be taxed as per your retirement benefit with the first R500 000 being tax-free. When calculating your tax-free portion, bear in mind that SARS will take into account all previous taxable withdrawals, retirement benefits and
The type of trust you intend to register will hinge on the estate planning objectives that you hope your trust will achieve. For instance, a family trust can be used to house and protect property or assets intended for future
Determining what you could realistically expect in terms of divorce settlement means understanding what assets your spouse has. In a particularly acrimonious divorce, a spouse could attempt to hide assets in a living trust or move assets offshore in the
While trustees are able to outsource the accounting functions of the trust, keep in mind that they remain responsible for the management of the trust assets. This includes keeping separate records of the trust assets, preparing annual financial statements, investing
If you intend to keep the marital home after your divorce, make sure that it makes financial sense for you to do so. Sentimental attachment to the marital home can blind you from making decisions that are in your financial
Unfortunately, it’s not always easy for an unsuspecting partner to spot financial infidelity in a relationship, especially with the shift towards online shopping and electronic billing. The likelihood of intercepting a bill or letter of demand in the post is
If you are left in a vegetative medical condition from which there is no hope of recovery, the onus will fall on your loved ones to make difficult decisions regarding your medical care – including whether to remove you from
While contributions to TFSAs are not tax-deductible, the real benefits lie in the fact that all growth and income received on your investment are free from tax, meaning that you will not be liable for CGT, dividends withholding tax or
If you have children under the age of 18, keep in mind that in terms of our law, they are incapable of inheriting directly. This means that any assets bequeathed directly to them may either be held in the Guardian’s
