beneficiary
Where married with the accrual system, each spouse is free to set up trusts, whether inter vivos or testamentary, in accordance with their needs and objectives. This means that a spouse is free to transfer assets owned by him into
Even once their adult children have their own homes and families, many retirees choose to hold on to the family home for sentimental reasons rather than downscaling to a more manageable-sized property. If the longer-term plan is to ultimately downscale
No guardian can sell or mortgage any immoveable property belonging to the minor unless permission has been granted by the High Court, keeping in mind that the court will also act in the best interests of the child.
If your fixed property is bonded and you have the appropriate level of bond cover in place, your executor will settle the bond using the proceeds of the life cover and bond cancellation instructions will be issued, thereby allowing your
Your heirs are those people who stand to inherit the residue of your estate, which is whatever assets are left after all your debts, the cost of administration, and any legacies or special bequests have been distributed. When drafting your
It is important to note that the beneficiary’s disability must be formally diagnosed by a medical practitioner, must have lasted for a period of more than 12 months, and must be considered irreversible in nature.
Be sure to check the term of your policy. Death benefits can be purchased for a fixed term, such as ten or twenty years, or for whole of life. Similarly, some benefits, such dread disease and disability cover, cease at
A young couple entering into an ante-nuptial contract generally has very little net worth and, as such, often record their respective commencement values for accrual purposes as zero. However, for couples marrying later in life, their ante-nuptial agreements may be
Staying at home to raise children and look after the family home is one of the most difficult, relentless jobs around. If you have a stay-at-home spouse, it is important to appreciate her economic value and the importance of the
