Wills and Estate Planning
With financially dependent adult children, this life stage is critical when it comes to fine-tuning your retirement plan, settling debt, and structuring your assets. Having increased your net worth, reduced your home loan debt, and with fewer financial dependants, it
Through an advance healthcare directive, you can provide your medical proxy with comfort that the decisions they are making are in line with your wishes. For instance, you can include guidelines on when to allow artificial life support, organ and
Unlike retirement funds whose distributions are subject to Section 37C of the Pension Funds Act, member owned living annuities are free to nominate beneficiaries to their investment. In this regard, living annuities differ from guaranteed life annuities which, generally speaking,
Also keep in mind that, as a permanent resident in South Africa, you are taxed on your worldwide estate, and this can have CGT and estate duty implications in the event of your death, especially where your foreign assets are
Once the spouses have made decisions as to what should be included and/or excluded from the accrual, each spouse must declare a commencement value for their estate from which point the growth in their respective estates will be gauged until
Upon the death of the first-dying spouse, the increase in the real value of the respective estates must be determined and accordingly the accrual claim. In its most simplistic form, if the surviving spouse’s share is less than the that
The executor is then required to advertise the deceased estate so that any potential creditors can register their claims. To do this, the executor will need to place a Section 29 advert in the local newspaper and government gazette in
By law, the executor is required to administer the entire estate on the passing of the first-dying spouse, and not just one half of the deceased’s share. As such, the executor’s and Master’s fees are calculated on the gross value
The emotional impact of adult children emigrating from South Africa was brought starkly into the spotlight during last year’s hard lockdown where the plight of many isolated and lonely old people confined to retirement homes was noted. Many older people
In terms of the Mental Health Care Act, a ‘mental illness’ is defined as a positive diagnosis of a mental health related illness in terms of accepted diagnostic criteria made by a mental health care practitioner authorised to make such
