estate liquidity
A Letter of Wishes complements your Will and should be seen as a guide rather than a set of binding instructions. This document provides additional information on personal matters to be considered after your death, such as your preferences for
Children under 18 cannot inherit lump sum payouts or other assets directly, as they lack the legal capacity to manage such assets. Therefore, if you intend to name a minor child as a beneficiary of a life insurance policy or
Where beneficiaries have been nominated on the investment, funds housed in a living annuity do not form part of your deceased estate and can be efficiently transferred to your loved ones in the event of your death.
The proceeds of business assurance policies are not considered deemed property in a deceased estate and therefore provide an exception to the general rule when it comes to calculating the dutiable estate. To qualify for an exemption, the buy-and-sell insurance
A common problem faced by many executors is that of illiquidity, which is where an estate lacks sufficient liquid assets to cover its debt and other financial obligations. In such circumstances, the executor will look to assets in the estate
If you own shares in a business or are the owner of key person cover, note that the proceeds of business assurance policies are exempt from estate dutiable provided that the policy is correctly structured.
Life insurance policies can be used to create liquidity in your estate and to make financial provision for your spouse and/or beneficiaries. However, as with other estate planning tools, it is essential to correctly structure your policy so that it
Once you make contact with the executor, be prepared for a preliminary meeting with her as she will be required to prepare a rudimentary list of your spouse’s assets and liabilities for submission to the Master, which must be accompanied
To determine the dutiable value of your estate, keep in mind that certain assets, such as bequests to your surviving spouse, bequests to PBOs, and the proceeds of life policies payable to your spouse, and business assurance polices, are excluded.
When financing a property using a home loan, it is common for the financing institution to insist that you take out bond cover as security for the loan. While most financing institutions offer bond cover to their customers, it is
