In the event of your death, the funds held in your retirement annuity, that have met the criteria to qualify as a deduction against your taxable income, do not form part of your deceased estate...
The way in which your trust will be taxed depends on several key factors, including the type of trust you establish, whether it qualifies as a special trust Type A or B, how the trust deed is drafted, and how
ncome protection benefits are designed to cover a percentage of your salary—usually up to 100% of your net taxable income. Some people consider multiple policies for added protection, but keep in mind that income protection is intended to cover actual
To qualify for estate duty exemption on a buy-and-sell policy, the policy must be taken out by a co-owner of the business with the deceased and be specifically intended to purchase the deceased shareholder’s business interest.
The birth of a child introduces significant responsibilities and a need to reassess your financial plan. Notably, your Will should be updated to nominate a legal guardian and to provide for a testamentary trust to protect your child’s inheritance should
In most cases, your group life and disability cover will fall away once your retrenchment takes effect, so it’s important to secure cover in your personal capacity. The underwriting process can be lengthy, particularly if medical underwriting is required—so begin
The workplace is evolving, with more businesses outsourcing specialised tasks to contractors rather than hiring full-time employees. According to the Southern African Freelancers’ Association (SAFREA), approximately 60% of freelancers hold postgraduate qualifications, with the majority based in Gauteng and the
Your Will is a confidential document, and you have the absolute right to distribute your assets as you see fit. You are under no legal obligation to share its contents with anyone, including your spouse. If undue influence or coercion
The cornerstone of any succession plan is a valid and carefully structured Will. Your Will should never be drafted in isolation but must align with your broader estate and financial planning strategy. Factors such as your matrimonial property regime, legal
Any disposal of your offshore investments triggers a capital gains event, with the gain being calculated as the difference between the value at the time of sale and the base cost of the purchase. This means that, if you sell
Look for creative ways to generate additional income. The gig economy has made it easier than ever to earn extra money through tutoring, freelance work, renting out a room, or offering pet-sitting or delivery services. Every bit of extra income
One key advantage of purchasing a living annuity with your retirement capital is that it is not subject to Regulation 28, allowing for more aggressive investment strategies, including 100% offshore exposure via Rand-denominated feeder funds. Direct offshore investing is not
