Sue Torr
When choosing witnesses for your Will, remember that no one who stands to benefit from your estate should be allowed to witness your Will. If a beneficiary to your Will also signs as a witness, he/she can be disqualified from
Whether or not you can draw from your investments depends on the type of investment you have in place. Legislation prohibits you from accessing funds held in provident and pension funds until the official retirement age of the fund.
While you are reassessing your life cover, take time to review the beneficiaries that you have nominated on your various policies and investments, including any retirement funds that you have in place.
Many employees make the dangerous assumption that this cover is sufficient for their needs and adequately protects them in the event of death or disability.
An ex-spouse cannot claim maintenance from the estate of her former husband after his death because the bonds of marriage had already been severed by divorce. Further, the surviving spouse’s right to maintenance from the estate continues until her death
If the body corporate needs more money, they are further entitled to raise a special levy which can be used to cover the costs of necessary expenses which cannot wait until the next financial year.
When choosing a medical aid for your parents, give careful thought to their specific medical condition and their healthcare history, their financial position, the facilities that are close to them, and what cover would be most appropriate for their needs.
Beware of nominating multiple executors as the logistics of three or more people dealing with SARS and the Master’s Office can be an impossible task.
Special trusts are those which are created for people with special needs, for example individuals with serious mental or physical disability and who are unable to provide for themselves financially.
Friendships and relationships evolve over time, and it may be that some of the trustees you nominated no longer fit the bill when it comes to administering your assets in the best interests of your loved ones.
