Wills and Estate Planning
Single retirees also present a special set of estate planning requirements which retired couples do not face, specifically when it comes to distributing their wealth after death. While most couples tend to bequeath their respective estates to each other, single
The due diligence procedures applied by financial institutions will generally be sufficient to identify the account holders and controlling persons. For example, a bank that opens a bank account for a trust with foreign beneficiaries could be expected to request
Make funding for your own retirement a priority and resist the temptation to dip into your own savings. Don’t leave free money on the table by failing to use tax-efficient retirement funding vehicles. Before helping others and to ensure that
If there is a Will, the Executor will use this document to determine how the assets will be distributed. In the absence of a Will, the assets will be distributed in accordance with the Intestate Succession Act.
When financing a property using a home loan, it is common for the financing institution to insist that you take out bond cover as security for the loan. While most financing institutions offer bond cover to their customers, it is
The real benefit of a living trust is that because trusts don’t die, assets housed in a trust can move from generation to generation without being subject to estate administration and the associated costs thereof.
Remember, the residue of your estate is what is left after all debts and estate costs have been paid, and after all, bequests have been made, so it is important to ensure that the inheritance intended for your heirs is
Endowments are complex investment policies that generally cater for investors with a marginal tax rate of 30% or more and can also make useful estate planning tools. As the policyholder, you can elect who the life assured and nominate beneficiaries
When contemplating a trust structure, do not lose sight of the fact that running a trust adds a layer of complexity and costs to your financial affairs. When setting up a family trust, keep in mind that you will be
An effective way to ensure that your affairs can be protected and safely managed in the event of mental incapacity is through the use of an inter vivos trust, which is a type of trust set up during your lifetime,
