matrimonial property regime
If you choose to stop working, make sure that you fully understand the implications of doing so. If you do not generate an income of your own, you will find it very difficult to build wealth in your own name.
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
Where a domestic life policy is registered under an ante-nuptial or post-nuptial contract where the spouse and/or child are the nominated beneficiaries, the proceeds of such a policy do not form part of the deceased’s dutiable estate.
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
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.
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
Your heirs are those people who stand to inherit the residue of your estate, which is whatever assets are left after all your debts, the cost of administration, and any legacies or special bequests have been distributed. When drafting your
While young and in the process of building wealth, it is essential to protect one’s greatest asset – your income. Your income allows you to service your debt, maintain your standard of living and fund for your retirement years.
