Lifestyle Financial Planning
Your financial adviser should be upfront and fully transparent about how he earns his fees. A remuneration structure favoured by most professional financial planning practices is to charge a flat rate for the preparation of a financial plan plus an
In terms of Section 37C, if the deceased has no financial dependants and his estate is solvent, the trustees must pay the nominees in the proportions in which they were nominated but only after a period of up to 12
If your ex-spouse has maintenance obligations towards your children, it is advisable to protect these payments by ensuring that the maintenance payer has sufficient life cover and that your minor children are named as beneficiaries.
If you decide to cash out your benefits, bear in mind that you will be taxed as per the withdrawal lump sum table. Further, keep in mind that by cashing out your money, you will effectively interrupt the compounding process
One of the greatest disadvantages of marrying in community of property is that the couple remains jointly liable for each other’s debt, including debt that was incurred before the marriage.
In respect of a unit trust RA, you can stop contributing to your investment at any time without any fees or penalties. As there is no recoupment period as in the case of insurance RAs, you will not be penalised
Regardless of how you choose to manage your money and bank accounts, it is always advisable that each partner has a bank account in their own name. When it comes to applying for credit or financing, you will need to
Your heirs are those people who stand to inherit the residue of your estate, which is whatever assets are left after all your debts, the cost of administration, and any legacies or special bequests have been distributed. When drafting your
An ETF is a listed investment product that tracks a defined index such as the JSE Top 40 which tracks the stock exchange’s top 40 companies. ETFs track JSE-listed shares which give investors exposure to multiple companies by investing in
It is important to note that the beneficiary’s disability must be formally diagnosed by a medical practitioner, must have lasted for a period of more than 12 months, and must be considered irreversible in nature.
