assets and liabilities
The costs of uncoupling and running two separate households cannot be under-estimated. Given that a divorce generally involves doubling up on one of the family’s largest monthly expenses (being the rent or bond payments), it goes without saying that a
Unlike a child’s natural guardian, a guardian appointed by the court can choose whether to accept the position or not. However, in assuming the office of guardian they do not have a legal duty to support the child but rather
If the Will is found to be invalid, then the deceased’s estate must be wound up in terms of the laws of intestate succession. In such an instance, the Master will appoint an Executor Dative to the deceased estate.
If you are self-employed, you may want to consider implementing mechanisms to ensure that your personal assets are protected from business creditors; whereas if you have interests in a business, business assurance mechanisms can be employed to ensure that these
The assets in the estate may only be distributed amongst the beneficiaries once all the estate’s debt has been settled, including SARS. As such, the executor is required to advertise the deceased estate so that any creditors can register their
As much as your financial plan should focus on building wealth, it also needs to include an estate plan that makes provision for the distribution of your wealth should you die, keeping in mind that tragedy can strike at any
If you are married out of community of property with the accrual system, remember that your surviving spouse has an accrual claim against your deceased estate to the extent that your share is greater than hers, and this must be
