living annuity
Single retirees also present a special set of estate planning requirements which retired couples do not face, specifically when it comes to distributing their wealth after death. While most couples tend to bequeath their respective estates to each other, single
While there is no legislated retirement age in South Africa, keep in mind that many employers have a pre-determined retirement age at which point employees are required to retire from the company. Where the employer sponsors a retirement fund, such
The real benefit of a living trust is that because trusts don’t die, assets housed in a trust can move from generation to generation without being subject to estate administration and the associated costs thereof.
Endowments are complex investment policies that generally cater for investors with a marginal tax rate of 30% or more and can also make useful estate planning tools. As the policyholder, you can elect who the life assured and nominate beneficiaries
Through the retirement fund harmonisation process, the options at retirement have been streamlined across pension, provident and retirement annuity funds, although there remain certain technicalities when dealing with the vested benefits in respect of provident fund contributions made prior to
If you are self-employed, you may want to consider implementing mechanisms to ensure that your personal assets are protected from business creditors; whereas if you have interests in a business, business assurance mechanisms can be employed to ensure that these
The type of policy you have in place, together with the applicable regulations, will impact both your beneficiary nomination and the policy's payout, so it is important to understand the nature of each policy you have in place.
Understanding the potential expenses you may be faced with at various stages during your retirement is key to developing realistic scenarios. For example, one could reasonably expect to spend more on travel during the first decade of your retirement with
In the process of determining your retirement income, don’t neglect to consider the capital outlays you might face during your retirement. If you have adult children living abroad, budgeting for overseas travel – specifically during the early part of your
