Financial Planning
As an aside, it is important to note that this type of trust can only be set up for the benefit of a disabled person and no one else’s benefit. Where there are two or more beneficiaries to your trust,
Future dependants would include those people whom the deceased member did not financially maintain or support at the time of his death but who would have been maintained if he was still alive. Future dependants could therefore include unborn children
The survival of any Ponzi scheme is dependent on its ability to continually attract new investors. Without an ongoing stream of new investors, the promoter is unable to pay the previous investors, and the whole scheme will unravel.
If the PBO qualifies in terms of Section 18A of the Income Tax Act, a donor can deduct the value of the donation from their own income tax, subject to certain ceilings. Donations made to a charity that is not
Until your child has traded a day of his or her life for a pay cheque it’s unlikely they’ll fully appreciate the value of money. Whether in the form of a holiday waiting job, babysitting, tutoring, coaching or pet-sitting, the
Any assets held in trust – whether inter vivos or mortis causa – do not fall into the estate of the deceased and do not attract estate duty. As such, trusts can make excellent estate planning tools, especially to house
Whereas disability insurance can be used to protect your future retirement, life cover can be effectively used to protect your spouse’s retirement in the event of your premature death.
If the member had no financial dependants at the time of death but had made beneficiary nominations, the trustees must first determine whether the member’s deceased estate is solvent. If not, then the death benefit – or a portion thereof
In the absence of an appointed multi-manager, a financial advisor and client would need to meet on at least an annual basis to select underlying funds, make changes to asset allocation, and re-balance the portfolio.
If you own shares in a business or are the owner of key person cover, note that the proceeds of business assurance policies are exempt from estate dutiable provided that the policy is correctly structured.
