Lifestyle Financial Planning
Tax planning is an important part of your overall estate plan, and it’s important to factor in the various taxes that your estate may be liable for. Keep in mind that your death will trigger a capital gain meaning that,
Investors are permitted to take out as many retirement annuities as they like. However, the tax benefit is calculated in aggregate and not in respect of each retirement annuity. Similarly, the tax-free portion at retirement may only be claimed once.
Probate is a procedure whereby your South African-drafted Will is approved by the foreign legal authority as valid so that your foreign assets can be administered, although keep in mind that obtaining a probate order may delay the winding up
Tax-free savings accounts can take the form of money market or fixed-term bank accounts, a unit trust investment or a JSE-listed exchange-traded fund, and can be issued by banks, long-term insurers, unit trust managers, mutual banks, or cooperative banks.
Except in the case of ill-health or emigration, investors can only retire from a retirement annuity from age 55 onwards, although they are entitled to stop contributing towards their RA at any stage without fear of early termination fees or
A power of attorney is a formal document by which a person (the principal) authorises another (the agent) to conclude juristic acts on his behalf. By signing a power of attorney, the principal indicates to third parties that he will
In theory, your bank accounts should be frozen in the event of your death. However, in practice, there is generally a delay between your death and the appointment of your executor whose job it is to notify your financial institutions
Debt is a mantel that can burden you daily. Being overly-indebted can be a dark place to be and a difficult place from which to escape. While you’re servicing expensive debt, such as credit card and retail debt, it is
Unless otherwise agreed upon, keep your joint financial affairs private and work hard to protect that privacy. Discussing your financial affairs with friends and family may be perceived as an open invitation for them to become involved in your finances,
In assessing a severe illness claim, particularly where there are tiered benefits in place, some insurers use an internationally recognised scoring system to measure the patient’s physical, mental and functional ability and the extent to which it has been affected
