Trusts
Home nursing is unaffordable to most families and can cost anywhere between R8 000 and R30 000 per month depending on the level of care required – bearing in mind that dementia care is a specialist field of nursing which,
Bewind trusts are created as trading vehicles and provide trustees with limited liability as well as certain tax benefits for beneficiaries. In a bewind trust, the trust founder sets up the trust in such a way that the assets and
In December 2022, there were further stringent amendments made to the Trust Property Control Act, including a change in the trustees reporting and the introduction of a new definition of ‘beneficial owner’.
Where beneficiaries have been nominated on the investment, funds housed in a living annuity do not form part of your deceased estate and can be efficiently transferred to your loved ones in the event of your death.
The death of the first-dying spouse is regarded as a disposal for capital gains tax purposes. Where the first-dying spouse bequeaths his/her share of the joint estate to the surviving spouse, the surviving spouse is treated as having obtained the
Life policies are used frequently as estate planning tools to ensure that one’s beneficiaries have access to funds in the immediate aftermath of one’s passing. However, in terms of our law, keep in mind that children under the age of
The couple’s retirement horizon effectively spans from the day the older spouse retires to the day the younger spouse dies, and this can make retirement scenario planning and modelling somewhat challenging.
If you intend setting up a trust, do not underestimate the importance of choosing appropriately skilled trustees to manage the trust assets, keeping in mind that the job a trustee is an onerous one that should not be taken lightly.
Once the assets are transferred into the trust, they no longer belong to the trust founder and the trustees are required to take over full control of the assets and ensure that they are managed to achieve the best outcomes
