estate duty
A testator can make a special bequest in his Will if he wants to leave a particular asset to a beneficiary (legatee), bearing in mind that the beneficiary does not need to be related to him. After your executor has
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
In respect of a unit trust RA, you can stop contributing to your investment at any time without any fees or penalties. As there is no recoupment period as in the case of insurance RAs, you will not be penalised
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.
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
Your tax commitments follow you to the grave and it is important to bear in mind that Sars has first claim to what is rightfully owing to them.
Legislation permits you to switch your living annuity to a life annuity, but not vice versa. This is because a life annuity is an insurance policy which is purchased with the capital in your investments, and therefore cannot be moved
As your adult children become financially independent and your net wealth grows, you may find that you can reduce your life cover to a certain extent.
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
