financial planning
n terms of the Income Tax Act, donations made to or for the benefit of a spouse married with an ante-nuptial or post-nuptial contract are exempt from donations tax. Where a spouse married in community of property donates property which
It is never ideal to become financially dependent on someone else or to rely on another person to fund for your financial future, even if you believe that you and your partner or spouse have committed to being together forever.
Getting children to appreciate the value of money is an age-old challenge. That said, one of the surest ways of helping anyone appreciate its value is to allow them to work or do chores in exchange for money. Be sure
If you’re planning to do renovations to your new home, you may need to budget for the services of a draughtsman or architect if your renovations require plans to be drawn up. Other costs to factor in include security upgrades
Full disclosure on your insurance application form is critical to ensure that your claim is not rejected at claims stage. Remember, even a seemingly small non-disclosure which has no relation to one’s disability can result in your claim being rejected
Women have a unique set of financial planning requirements which need to be carefully planned and provided for. Besides for the gender pay gap (which is still very much in existence), women are more likely to have their retirement savings
If you choose to stop working, make sure that you fully understand the implications of doing so. If you do not generate an income of your own, you will find it very difficult to build wealth in your own name.
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
With financially dependent adult children, this life stage is critical when it comes to fine-tuning your retirement plan, settling debt, and structuring your assets. Having increased your net worth, reduced your home loan debt, and with fewer financial dependants, it
