estate planning
The costs of uncoupling and running two separate households cannot be under-estimated. Given that a divorce generally involves doubling up on one of the family’s largest monthly expenses (being the rent or bond payments), it goes without saying that a
With a properly structured business assurance agreement, the proceeds from such a policy are exempt from estate duty in your estate. Unlike other assets, business assurance policy proceeds are not considered part of the deceased estate's deemed property, offering a
A trust can be useful for securing assets such as a family farm or holiday home for future generations, safeguarding against potential alienation or sale. In such circumstances, the trust serves as a valuable succession planning tool by ensuring that
Home nursing is unaffordable to most families and can cost anywhere between R8 000 and R30 000 per month depending on the level of care required – bearing in mind that dementia care is a specialist field of nursing which,
During the divorce process, remember that both you and your spouse retain full contractual freedom when determining a settlement. You can choose to strictly adhere to your matrimonial property regime for asset division or opt for a negotiated settlement tailored
Children under 18 cannot inherit lump sum payouts or other assets directly, as they lack the legal capacity to manage such assets. Therefore, if you intend to name a minor child as a beneficiary of a life insurance policy or
In the absence of an estate plan, problems could arise in the deceased’s estate if there are insufficient liquid assets to honour the deceased’s bequests. In order to pay the bequests, the executor may need to realise assets in the
While the proceeds of domestic life insurance policies are deemed property in a deceased estate, buy and sell cover is a notable exception. This insurance is taken out by business owners on each other’s lives so that, if one shareholder
Where bonded fixed property is bequeathed to your children, they may be required to register a bond over the property in their own name and, if they do not qualify for a bond, they may be forced to sell the
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
