Wills and Estate Planning
While trustees are able to outsource the accounting functions of the trust, keep in mind that they remain responsible for the management of the trust assets. This includes keeping separate records of the trust assets, preparing annual financial statements, investing
If you intend to keep the marital home after your divorce, make sure that it makes financial sense for you to do so. Sentimental attachment to the marital home can blind you from making decisions that are in your financial
If you are left in a vegetative medical condition from which there is no hope of recovery, the onus will fall on your loved ones to make difficult decisions regarding your medical care – including whether to remove you from
If you have children under the age of 18, keep in mind that in terms of our law, they are incapable of inheriting directly. This means that any assets bequeathed directly to them may either be held in the Guardian’s
Understanding the potential expenses you may be faced with at various stages during your retirement is key to developing realistic scenarios. For example, one could reasonably expect to spend more on travel during the first decade of your retirement with
Given the fact that you will be relinquishing control of your assets, you need to ensure that your trustees have the requisite skill and expertise to manage the trust assets. Remember, if you are setting up a family trust, you
If you intend to gift a larger amount of money to your child, it may be more effective to structure the inheritance as a loan whereby the loan account appears as an asset in your estate, thereby avoiding donations tax.
In a nutshell, income protection is a long-term insurance benefit designed to replace or supplement your income in the event of illness or injury which temporarily or permanently prevents you from earning an income. While you may not perceive this
Where a couple is married in accordance with the Recognition of Customary Marriages Act, they are automatically considered to be married in community of property. If they wish to be married out of community of property, they are required to
