estate plan
If your parents are fortunate enough to still have each other, it’s important to have conversations about what would happen in the event of one of them passing. Depending on the nature of their retirement income, the death of the
If a couple is married in community of property, both spouses remain jointly and severally liable for all the debt in estate, including any debt that was incurred before the date of marriage. Upon the death of the first-dying spouse,
Appropriately timing the sale of your primary residence is imperative, not least of all because the decision can be a hugely emotional one which can become more overwhelming with age. Further, if your retirement plan is dependent on some or
If you’ve acquired any foreign assets since drafting your Will, this may necessitate a review of your Will. Depending on the nature and jurisdiction of the foreign assets, it may be necessary to have a foreign Will drafted. In such
Living annuities make excellent estate planning tools because the policyholder is free to nominate his beneficiaries with the surety that, upon his death, the proceeds will devolve on them. In the event of the policyholder’s death, the proceeds of the
The efficacy of your living will hinges on your family and/or medical doctor knowing about its existence. When tragedy strikes, you do not want your family wondering whether you have a living will, or scrambling to find it. Make sure
Before making the decision to emigrate, it is advisable to review your plan to ensure that you fully understand the financial impact of doing so. Regardless of where you intend relocating to, emigration is an enormously expensive undertaking that requires
The maximum amount that an executor can charge is 3.5% of the gross value of the assets in the estate, plus VAT at 15%. In addition to this, your executor is entitled to charge 6% on all income collected on
If you own shares in a business together with other shareholders, it is advisable to put what is termed buy-and-sell cover in place on the lives of the shareholders – specifically where you have a large portion of your wealth
