Lifestyle Financial Planning
If a couple is married in community of property, both spouses remain jointly and severally liable for all the debt in estate, including any debt that was incurred before the date of marriage. Upon the death of the first-dying spouse,
Appropriately timing the sale of your primary residence is imperative, not least of all because the decision can be a hugely emotional one which can become more overwhelming with age. Further, if your retirement plan is dependent on some or
While many people tend to use the term Living Will and Advance Healthcare Directive interchangeably, there is a fundamental difference between the two documents. Whereas a Living Will is essentially an instruction to withhold or withdraw life-sustaining medical treatment where
Endowments also offer tax benefits to investors with a marginal tax rate of more than 30% as it will reduce the tax payable on investment growth. However, it is important to bear in mind that endowments have restricted investment terms
If you know your workplace value, be sure to negotiate a market-related salary. Remember, many of your employment benefits – including your pension fund contribution, group life cover, income protection benefits and bonuses – are linked to your income, so
Generally speaking, you may not make additional contributions to your preservation fund except if the money originates from another retirement fund. Also, if you have been awarded a share of your ex-spouse’s pension interest in terms of Section 7(8) of
If you’ve acquired any foreign assets since drafting your Will, this may necessitate a review of your Will. Depending on the nature and jurisdiction of the foreign assets, it may be necessary to have a foreign Will drafted. In such
In its simplest form, gap cover is designed to cover the difference between what your medical specialist charges for in-hospital treatment and your medical aid tariff, up to a certain limit, with top-end gap cover providers offering up to 600%
Living annuities make excellent estate planning tools because the policyholder is free to nominate his beneficiaries with the surety that, upon his death, the proceeds will devolve on them. In the event of the policyholder’s death, the proceeds of the
Once you have a living annuity in place, you are permitted to make additional contributions towards your investment provided that the funds are from an approved retirement fund. For instance, if you later decide to retire from a retirement annuity,
