joint estate
By law, the executor is required to administer the entire estate on the passing of the first-dying spouse, and not just one half of the deceased’s share. As such, the executor’s and Master’s fees are calculated on the gross value
The matrimonial property regime under which a person is married will naturally impact on the estate duty calculation. Where a couple is married in community of property there is only one estate. This means that should one spouse die, the
When making an application to the courts, you and your spouse will need to set out sufficient reason for making the change. Further, you will need to satisfy the court that neither of you is insolvent nor has any judgement
Don’t hesitate to have those difficult financial conversations early on in your marriage. Is there a financial demanding ex-spouse or child that is causing tension in your relationship? What happens if you need to provide financial assistance to your elderly
Estate planning is an important exercise for coupled married with the accrual system to undertake to ensure that each spouse is adequately provided for in the event of tragedy. The accrual comes into effect when one spouse passes away which
There are a number of circumstances that can disqualify a potential heir. Firstly, any person who writes a Will, or any part thereof, on behalf of the testator can be disqualified from inheriting, as is the writer’s spouse. Similarly, the
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
Not having a common set of goals can leave a couple feeling directionless and isolated from each other. In the absence of common goals, a couple may end up working against each other and jeopardising the financial future. Every team
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
