Financial Planning
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.
Despite the fact that you may have nominated a beneficiary (or beneficiaries) to your retirement fund, it remains the function of the trustees to allocate and apportion these funds.
In the absence of a formal agreement between the two parties, the couple’s financial arrangements can be particularly complex in the event of death or a terminated relationship.
If the executor you have nominated in your Will has subsequently emigrated from the country, now is a good time to amend your Will and nominate someone who is locally based.
Now is a good time to check the beneficiary nomination on your policy as this can affect how, when and to whom the claim is paid out. If you have nominated your estate as the beneficiary on your policy, the
