marriage
Talking to family, friends and colleagues about your personal finances should really only be done with your partner’s consent. Finances are highly personal, and it is only understandable that a partner would feel aggrieved if the other partner discusses your
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
Where married with the accrual system, each spouse is free to set up trusts, whether inter vivos or testamentary, in accordance with their needs and objectives. This means that a spouse is free to transfer assets owned by him into
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
If you have a sentimental attachment to the family home and are considering holding on to it, be sure to understand the financial implications of doing so. As difficult as it may be, try to remove the emotions from the
With many South Africans being scattered around the globe, discuss the reality that you may need to incur costs visiting family members who live abroad, how this should be budgeted for, and what is considered reasonable travel expenses.
If your ex-spouse has maintenance obligations towards your children, it is advisable to protect these payments by ensuring that the maintenance payer has sufficient life cover and that your minor children are named as beneficiaries.
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 living together as ‘husband and wife’ but are not married, there is effectively no marriage capable of dissolution and there can be no transfer of pension interest benefit.
