maintenance
While putting money away for your child’s education is important, do not neglect your retirement funding. Without adequate retirement funding in place, you could become a financial burden on your child later in life which should be avoided at all
Many women find themselves trapped in unhappy and/or abusive relationships because they do not have the financial means to escape. As such, it is absolutely essential that every woman in a long-term relationship or marriage becomes actively involved in the
Avoid relying on your spouse to fund for your retirement. Investing towards a comfortable retirement requires careful planning, time, and a commitment to regular saving – and relying on one person to save sufficiently for two people’s retirement can be
Depending on the terms of the divorce order, you may need to move off your ex-spouse’s medical aid and register as the principal member of your own medical aid. This may be a good time to completely reassess your healthcare
To determine the dutiable value of your estate, keep in mind that certain assets, such as bequests to your surviving spouse, bequests to PBOs, and the proceeds of life policies payable to your spouse, and business assurance polices, are excluded.
Saving for retirement may feel like an impossibility for a single parent, especially when your children are younger and the continuous stream of expenses seems insurmountable. It may help to remind yourself that saving for retirement is a long-term process
An application for interim maintenance can be brought quickly and cost-effectively so as to provide a spouse with financial relief pending the finalisation of the divorce. The spouse bringing the application must provide proof that she does not have sufficient
The non-payment of maintenance forces many single mothers to incur ongoing legal costs and enter a cycle of debt – exacerbated by having to take time off work to attend maintenance court which in turn causes further loss of income
Another limitation in respect of testation can be found in terms of Section 2B of the Wills Act which effectively provides a three-month window period for divorcees to update their Wills following a divorce order.
