Estate planning
Overly complex Wills, especially in the case of blended families and previous spouses, can result in delays in the administration process where disputes arise due to unclear wording or clauses that can be interpreted in different ways. Any legal challenge
The owner of a living annuity, referred to as the annuitant, can nominate one or more beneficiaries – whether individuals, trusts or even charities – to receive the remaining value of their living annuity in the event of their death.
If you and your minor child’s other parent have parental responsibilities and rights, you are considered by law to be the child’s natural guardians which include a legal duty to support the child. This is because the duties of a
In terms of the doctrine of ademption, specific bequests lapse when the asset no longer exists. This can happen when the testator sells, gives away or otherwise disposes of an item before they die. Unless the will provides for substitution
Many parents—especially those with multiple children—struggle to determine how best to distribute an inheritance. In this regard, it’s helpful to consider the difference between equal and equitable.
It’s important to remember that your tax obligations do not end at death. One of the executor’s primary responsibilities is to settle any outstanding tax obligations with SARS, including unresolved returns from previous tax years. For income tax purposes, a
As the trust founder, you will be required to relinquish control of your assets into the care of your nominated trustees and, in doing so, you will want to ensure that you have full trust in the person (or people)
A lack of adequate retirement facilities and the prohibitive costs of retirement homes has resulted in many retirees being forced to explore alternatives for their post-retirement living other than what they had planned for. For many retirees, assisted living, frail
