Sue Torr
Traditional disability assurance is based on whether or not you are physically able to work. Occupational Disability assurance is generally divided into (a) own occupation, (b) own or similar occupation or (c) any occupation. These definitions will determine whether you
As retirement capital housed in an in-fund annuity is regulated by the Pension Funds Act, it is also important to note that the funds are subject to Regulation 28. In terms of these regulations, retirement funds are limited to certain
If you have a sentimental attachment to the family home and are considering holding on to it, be sure to understand the financial implications of doing so. As difficult as it may be, try to remove the emotions from the
With many South Africans being scattered around the globe, discuss the reality that you may need to incur costs visiting family members who live abroad, how this should be budgeted for, and what is considered reasonable travel expenses.
No guardian can sell or mortgage any immoveable property belonging to the minor unless permission has been granted by the High Court, keeping in mind that the court will also act in the best interests of the child.
Your financial adviser should be upfront and fully transparent about how he earns his fees. A remuneration structure favoured by most professional financial planning practices is to charge a flat rate for the preparation of a financial plan plus an
In terms of Section 37C, if the deceased has no financial dependants and his estate is solvent, the trustees must pay the nominees in the proportions in which they were nominated but only after a period of up to 12
If your ex-spouse has maintenance obligations towards your children, it is advisable to protect these payments by ensuring that the maintenance payer has sufficient life cover and that your minor children are named as beneficiaries.
When retiring from a provident preservation fund, you currently still have the flexibility to withdrawal anything up to 100% in cash with any remaining balancing being used to purchase an annuity to provide income.
If your fixed property is bonded and you have the appropriate level of bond cover in place, your executor will settle the bond using the proceeds of the life cover and bond cancellation instructions will be issued, thereby allowing your
