estate plan
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
If you have a Will, it is likely that the Latin term per stirpes appears in your Will. Per stirpes is a legal stipulation which requires that if one of your beneficiaries dies before you, her share of the inheritance
If you have a special needs child, ensuring that those assets intended for him are protected and managed in his best interests even after your passing is a critical part of generational wealth planning. Special trusts, whether testamentary or inter
Another mechanism for ensuring effective succession planning is by nominating beneficiaries to your life policy or living annuity. If you wish to provide capital to your spouse and/or children in the event of your death, taking out life cover is
Through an advance healthcare directive, you can provide your medical proxy with comfort that the decisions they are making are in line with your wishes. For instance, you can include guidelines on when to allow artificial life support, organ and
From an income tax perspective, as a South African resident, you will have to pay tax on the interest and dividends earned on your foreign-domiciled investments. This is because South Africa uses a residency-based system to calculate tax, and South
Trustees have a fiduciary duty to manage the trust assets in the interests of the beneficiaries and in line with the terms and conditions set out in the Will. It is essential to nominate trustees who have the knowledge and
Through indirect offshore investing, you effectively invest in a local unit trust portfolio that has a mandate to invest in foreign assets – a relatively simple, convenient, and cost-effective process. As an investor, you will invest your Rands with a
In order for your Will to be valid and to avoid contestation, ensure that you sign your Will in the presence of your witnesses and that you, in turn, watch them witness your signature. The validity of your Will can
You are not able to appoint beneficiaries to your unit trust investments as, in the event of your death, the proceeds will fall within your estate and will be distributed in accordance with your wishes. Keep in mind that the
