One of the key features of a fee-based model is its transparency, as the cost is usually expressed as a clear percentage of assets under management or a fixed Rand amount, with no hidden commissions,...
In terms of the Income Tax Act, individuals can donate up to 10% of taxable earnings towards an approved Public Benefit Organisation (PBO) on a tax-deductible basis, but to receive the tax exemption, you need to ensure that the non-profit
A significant advantage of a living trust is that it allows you to peg the value of assets in your personal estate while enabling the growth on those assets to take place in the trust. This can reduce your estate
Significantly, the impact of lower earnings leads to reduced access to employer-sponsored retirement contributions, lower levels of group life and disability cover, reduced ability to invest meaningfully, and a diminished ability to benefit from compound growth over time.
Professional advice is invaluable in ensuring compliance with South African law, notably around clauses such as the appointment of an executor, guardian nominations, and the establishment of testamentary trusts.
With the implementation of the Two-Pot Retirement System from 1 September 2024, it is more important than ever to evaluate your options carefully when changing employers. Decisions regarding your retirement savings can have a lasting impact on your financial future.
Overly complex Wills, especially in the case of blended families and previous spouses, can result in delays in the administration process where disputes arise due to unclear wording or clauses that can be interpreted in different ways. Any legal challenge
The owner of a living annuity, referred to as the annuitant, can nominate one or more beneficiaries – whether individuals, trusts or even charities – to receive the remaining value of their living annuity in the event of their death.
If you and your minor child’s other parent have parental responsibilities and rights, you are considered by law to be the child’s natural guardians which include a legal duty to support the child. This is because the duties of a
In terms of the doctrine of ademption, specific bequests lapse when the asset no longer exists. This can happen when the testator sells, gives away or otherwise disposes of an item before they die. Unless the will provides for substitution
While many South African investors make use of retirement funds to build wealth for their retirement years, many do not take the opportunity to structure their contributions in a pre-tax manner – which can inadvertently affect the growth of one’s
A couple planning to get married should sign their antenuptial contract before getting married. Failure to sign an antenuptial contract prior to the date of marriage will mean that you and your partner will automatically be married in community of
