financial planning
The couple’s retirement horizon effectively spans from the day the older spouse retires to the day the younger spouse dies, and this can make retirement scenario planning and modelling somewhat challenging.
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.
Burying your head in the sand and hoping for the best is not a retirement funding strategy. If you’ve never had a retirement plan prepared and you don’t know whether you are putting away enough for retirement, this will undoubtedly
In terms of calculating estate duty, there is an abatement on the first R3.5 million of the value of the estate which is not subject to tax. If the deceased is the first-dying spouse, they may roll over any unused
Another important factor when it comes to planning for complex family structures is the issue of retirement fund beneficiary nomination. In the case of retirement funds, bear in mind that your beneficiary nomination is merely a guide to the fund
If you’re fit and healthy, you may want to remain in the family home for longer. You may also not feel ready to enter into a retirement home or village while you are still enjoying good health, which is understandable.
A trust can also be used strategically to safeguard your personal assets from the potential risks associated with business activities and/or insolvency. By setting up a living trust, you can transfer specific assets into the trust with the primary focus
While alter-ego trusts may be valid, ‘sham’ trusts fail to meet the requirements for validity in that they are essentially fake trusts designed to deceive others. As such, the test for determining whether a trust is a sham one is
Funds held in retirement annuities do not form part of one’s deceased estate meaning that RAs can play a role in your overall estate plan, although it is important to understand the associated idiosyncrasies. This is because retirement annuities, being
