last will and testament
It is important that you give careful thought to those you intending to nominate as trustees as you will effectively be entrusting them with an enormous responsibility – keeping in mind that you will no longer be around when their
Another mechanism for ensuring effective succession planning is by nominating beneficiaries to your life policy or living annuity. If you wish to provide capital to your spouse and/or children in the event of your death, taking out life cover is
With financially dependent adult children, this life stage is critical when it comes to fine-tuning your retirement plan, settling debt, and structuring your assets. Having increased your net worth, reduced your home loan debt, and with fewer financial dependants, it
Upon the death of the first-dying spouse, the increase in the real value of the respective estates must be determined and accordingly the accrual claim. In its most simplistic form, if the surviving spouse’s share is less than the that
The executor is then required to advertise the deceased estate so that any potential creditors can register their claims. To do this, the executor will need to place a Section 29 advert in the local newspaper and government gazette in
Trustees have a fiduciary duty to manage the trust assets in the interests of the beneficiaries and in line with the terms and conditions set out in the Will. It is essential to nominate trustees who have the knowledge and
If you intend becoming a stay-at-home spouse, think carefully about the consequences of losing your financial freedom at such a young age. Not only can not generating an income shift the dynamics of your relationship, it can also create feelings
In order for your Will to be valid and to avoid contestation, ensure that you sign your Will in the presence of your witnesses and that you, in turn, watch them witness your signature. The validity of your Will can
If you have minor children and are the first-dying parent, the surviving parent will be the legal guardian to your children. In the absence of a living guardian, the Master will appoint a guardian for your children after taking into
As a single parent, if you are unable to generate an income, you will not have a spouse or partner whose income you can fall back on. An income protection benefit is an excellent way of ensuring that you will
