beneficiaries
If a couple is living together as ‘husband and wife’ but are not married, there is effectively no marriage capable of dissolution and there can be no transfer of pension interest benefit.
To ensure the validity of a trust, the trust donor must relinquish control of the trust assets to the trustees. As such, one of the first functions of the trustees is to identify the various assets of the trust, prepare
The ownership of an asset by a trust can protect a family’s assets from potential creditors. Further, such an asset will not fall into the personal estate of the beneficiary and will therefore also be protected from the beneficiary’s creditors.
When distributing your assets, the executor will first use your assets to pay the costs of administering your estate and to pay your creditors. Thereafter, your legatees will receive any legacies due to them in terms of any special bequests
Many employees make the dangerous assumption that this cover is sufficient for their needs and adequately protects them in the event of death or disability.
In your estate planning file, you can include instructions pertaining to your burial or funeral. This can be in the form of guidance to your loved ones as to whether you wish to be buried or cremated, where you would
As is evident, the process of winding up an estate is lengthy, time-consuming and administratively intensive. It also requires that the Executor has a good understanding of accounting, finance and tax.
