estate plan
Where a minor child inherits money, the Master may direct that these funds are transferred to the Guardian’s Fund, following which an account will be opened in the name of the beneficiary. If the beneficiary has not yet been identified,
All couples should plan for the reality that one partner will outlive the other and contemplating what life will look like alone is an important discussion for couples to have. Developing a joint estate plan is an essential part of
The wealth accumulation phase generally requires more robust and strategic financial planning as you intentionally work towards achieving financial freedom. With higher levels of income and a well-crafted financial plan, your financial goals should feel within reach, and you should
Something that many people tend to overlook is that all previous Wills should be both physically destroyed and revoked in writing as failing to do so can cause uncertainty for those left behind -especially if one or more of the
Make funding for your own retirement a priority and resist the temptation to dip into your own savings. Don’t leave free money on the table by failing to use tax-efficient retirement funding vehicles. Before helping others and to ensure that
If there is a Will, the Executor will use this document to determine how the assets will be distributed. In the absence of a Will, the assets will be distributed in accordance with the Intestate Succession Act.
The real benefit of a living trust is that because trusts don’t die, assets housed in a trust can move from generation to generation without being subject to estate administration and the associated costs thereof.
Remember, the residue of your estate is what is left after all debts and estate costs have been paid, and after all, bequests have been made, so it is important to ensure that the inheritance intended for your heirs is
Endowments are complex investment policies that generally cater for investors with a marginal tax rate of 30% or more and can also make useful estate planning tools. As the policyholder, you can elect who the life assured and nominate beneficiaries
When contemplating a trust structure, do not lose sight of the fact that running a trust adds a layer of complexity and costs to your financial affairs. When setting up a family trust, keep in mind that you will be
