in community of property
Because each spouse is able to bind the joint estate through their actions, our law affords some protection by requiring spousal consent for certain transactions. For instance, your spouse’s consent would be needed if you want to sell a joint
One of the greatest disadvantages of marrying in community of property is that the couple remains jointly liable for each other’s debt, including debt that was incurred before the marriage.
Regardless of how you choose to manage your money and bank accounts, it is always advisable that each partner has a bank account in their own name. When it comes to applying for credit or financing, you will need to
If a couple is married with the accrual system, the spouse’s pension fund interest will be taken into account when determining the value of his estate for the purposes of the accrual calculation, and a claim can be laid to
When distributing your assets, the executor will first use your assets to pay the costs of administering your estate and to pay your creditors. Thereafter, your legatees will receive any legacies due to them in terms of any special bequests
When choosing witnesses for your Will, remember that no one who stands to benefit from your estate should be allowed to witness your Will. If a beneficiary to your Will also signs as a witness, he/she can be disqualified from
While you are reassessing your life cover, take time to review the beneficiaries that you have nominated on your various policies and investments, including any retirement funds that you have in place.
An ex-spouse cannot claim maintenance from the estate of her former husband after his death because the bonds of marriage had already been severed by divorce. Further, the surviving spouse’s right to maintenance from the estate continues until her death
The matrimonial property regime that you choose at the outset of your marriage has far-reaching implications in respect of your assets, debt, insolvency, divorce and death.
f a business owner dies or becomes permanently disabled, he would naturally want to ensure that the remaining shareholders have enough capital to buy his shares from his deceased estate. Depending on the value of the business, the surviving shareholders
