financial planning
The acquisition of foreign assets subsequent to drafting your will may necessitate a review of your will, although this would depend on the nature of the asset and the jurisdiction in which it is held. Generally speaking, a foreign will
Until your child has traded a day of his or her life for a pay cheque it’s unlikely they’ll fully appreciate the value of money. Whether in the form of a holiday waiting job, babysitting, tutoring, coaching or pet-sitting, the
A well-constructed financial plan should help you use good debt strategically to increase your net worth. Remember, not all debt is bad – good debt, such as a home loan, can be leveraged to build equity in your property so
It is also important to determine whether the scheme’s annual contribution increases have been out of kilter with the rest of the industry. Again, look at the scheme’s contribution increases over the past three to five years. If they have
Avoid using your salary increase as a reason to live a more expensive lifestyle. While you may be tempted to buy a more expensive car or live a more lavish lifestyle, consider the lost opportunity costs of not investing the
When it comes to planning the distribution of your retirement benefits to your heirs and beneficiaries, it is important to keep in mind that funds housed in approved retirement funds do not fall into your estate. Rather, the distribution of
Be sure to keep your disability cover up-to-date and appropriate to your needs, paying specific attention to your income protection benefit which is likely to be your financial lifeline should you become incapacitated for an extended period of time. An
Where the sole surviving guardian of a minor child passes away without having nominated a guardian in terms of their will, the responsibility falls on the State to appoint a legal guardian for the child/children, which is not an ideal
Without access to private healthcare, you’ll likely have to rely on State facilities for your care and treatment – and while there are some excellent government facilities out there, the reality is that they’re overburdened and understaffed, and accessing treatment
One of the most important factors when claiming a share of the member spouse’s pension interest is to ensure that the wording of the divorce order meets all the legal requirements to ensure that the fund administrator can action the
