Lifestyle Financial Planning
If there have been changes to your smoker status since the inception of the policy, be sure to find out what your insurer’s requirements are in this regard as there may be an obligation on you to notify them, particularly
Upon your death, your testamentary trust will come into formation and the assets identified in your will must be transferred to the trust. Your nominated trustees must apply to the Master of the High Court for letters of authority which
Legislation permits that the owner of a living annuity can draw down between 2.5% and 17.5% of the value of his living annuity every year, with the option to review the draw down rate at the living annuity’s anniversary. Investors
A civil marriage in terms of the Marriage Act of 1961 can only be entered into between a man and a woman and is the most common form of marriage in South Africa. When entering into a civil marriage, in
The primary function of your healthcare advisor or broker is to ensure that you and your loved ones are on the most appropriate plan option for your needs and that, as a family, you are receiving full value for the
Further, it is important to bear in mind that, while a member’s beneficiary nominations are taken into account by the trustees of the fund, it is the trustees who make the ultimate decision regarding distribution of the death benefits.
If you have a loved one who is mentally and/or physically incapable of managing his affairs, our common law makes it possible to approach the High Court for the appointment of a Curator Bonis, although keep in mind that the
Note that if your employer contributes to your retirement fund, their final contribution only needs to be paid by the seventh day of the following month in which you retire. Once the contribution reflects, which could take a couple of
During the course of your first meeting, your advisor should provide you with a disclosure letter that, amongst other things, sets out exactly how she will earn her fees and what you can expect in terms of costs going forward.
Before retiring, it is important to carefully assess your capital needs – both at the point of retirement and into the future. Remember, you are not permitted to make lump sum withdrawals from a life annuity or living annuity, so
