Wills and Estate Planning
In theory, your bank accounts should be frozen in the event of your death. However, in practice, there is generally a delay between your death and the appointment of your executor whose job it is to notify your financial institutions
Taxpayers are afforded several ways to reduce their tax liabilities, and it is advisable to employ these mechanisms to your benefit. Leaving ‘free money’ on the table doesn’t make financial sense so be sure that tax planning forms part of
In theory, your bank accounts should be frozen in the event of your death. However, in practice, there is generally a delay between your death and the appointment of your executor whose job it is to notify your financial institutions
Through a Living Will, you can request that certain medical treatment aimed at prolonging your life can be withheld in circumstances where there is no hope of your survival, such as if you are in an irreversible vegetative state with
an alter-ego trust is valid in that it is the trust founder’s clear intention to form a trust, and all the requirements for the formation of a valid trust have been met. As such, in determining whether an alter-ego trust
Upon the death of the member, the RA fund trustees are required to undertake an investigation to identify the dependants and nominees of the deceased, decide on an equitable distribution amongst those identified, and determine how the payment should be
If you have previously drafted a Will, it is vital that you include a revocation clause in your new Will in which you expressly revoke all previously drafted Wills. If you die leaving two or more different Wills, this can
Where a minor child inherits money, the Master may direct that these funds are transferred to the Guardian’s Fund, following which an account will be opened in the name of the beneficiary. If the beneficiary has not yet been identified,
While identifying your heirs is important, it’s also important to nominate successive heirs to deal with the eventuality that one or more of your heirs predeceases you. If you are silent on what happens in such circumstances, your executor must
All couples should plan for the reality that one partner will outlive the other and contemplating what life will look like alone is an important discussion for couples to have. Developing a joint estate plan is an essential part of
