fixed property
As much as your financial plan should focus on building wealth, it also needs to include an estate plan that makes provision for the distribution of your wealth should you die, keeping in mind that tragedy can strike at any
Assets that you had intended to bequeath to your loved ones may need to be sold in order to pay off the debt in your estate which, besides for leaving your heirs in a financially precarious position, could have tax
A testator can make a special bequest in his Will if he wants to leave a particular asset to a beneficiary (legatee), bearing in mind that the beneficiary does not need to be related to him. After your executor has
Where married with the accrual system, each spouse is free to set up trusts, whether inter vivos or testamentary, in accordance with their needs and objectives. This means that a spouse is free to transfer assets owned by him into
If your fixed property is bonded and you have the appropriate level of bond cover in place, your executor will settle the bond using the proceeds of the life cover and bond cancellation instructions will be issued, thereby allowing your
Your heirs are those people who stand to inherit the residue of your estate, which is whatever assets are left after all your debts, the cost of administration, and any legacies or special bequests have been distributed. When drafting your
If a couple is living together as ‘husband and wife’ but are not married, there is effectively no marriage capable of dissolution and there can be no transfer of pension interest benefit.
Even a seemingly insignificant oversight can change the meaning of your Will entirely and lead to unintended consequences.
Estate planning is often perceived as planning for your death. However, much of estate planning involves events that occur during your lifetime and includes financial planning, selecting an appropriate marriage regime, tax and business planning, offshore investing and retirement planning.
