estate plan
Being a single parent comes with a unique set of challenges that are sometimes difficult for those who are co-parenting to fully understand.
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.
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
An ex-spouse cannot claim maintenance from the estate of her former husband after his death because the bonds of marriage had already been severed by divorce. Further, the surviving spouse’s right to maintenance from the estate continues until her death
Special trusts are those which are created for people with special needs, for example individuals with serious mental or physical disability and who are unable to provide for themselves financially.
It is important to make plans for the possibility that you may suddenly become mentally incapacitated. A general power of attorney is not valid in instances where the principal has no mental capacity and would therefore be of no use.
