estate plan
Bewind trusts are created as trading vehicles and provide trustees with limited liability as well as certain tax benefits for beneficiaries. In a bewind trust, the trust founder sets up the trust in such a way that the assets and
Unlike a child’s natural guardian, a guardian appointed by the court can choose whether to accept the position or not. However, in assuming the office of guardian they do not have a legal duty to support the child but rather
To formalise his/her appointment, the executor must apply to the Master’s Office for what is referred to as letters of executorship which will only be issued if the Master is satisfied that the will is valid and that the nominated
A curator bonis has limited powers of investment which can adversely affect the growth of assets in the estate. The nature of the job together with generally poor remuneration means it is difficult to find appropriate candidates to assume the
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 death of the first-dying spouse is regarded as a disposal for capital gains tax purposes. Where the first-dying spouse bequeaths his/her share of the joint estate to the surviving spouse, the surviving spouse is treated as having obtained the
Living annuities can play an important estate planning role if correctly structured. Where the annuitant nominates beneficiaries, any residual value remaining in the event of their death will be paid to the beneficiaries and, in doing so, will bypass the
Ensure that you view the property multiple times before putting in an offer. Be intentional about looking past the aesthetics to identify potential defects and faults, especially those that could be critical. Specifically, look out for damp or water seepage,
Running a single-income household, single mothers know and understand the importance of careful budgeting. With only one person generating an income and managing outflows, budgeting for a single mother is easier to centralise and manage.
