mental incapacity
Tax planning is an important part of your overall estate plan, and it’s important to factor in the various taxes that your estate may be liable for. Keep in mind that your death will trigger a capital gain meaning that,
A power of attorney is a formal document by which a person (the principal) authorises another (the agent) to conclude juristic acts on his behalf. By signing a power of attorney, the principal indicates to third parties that he will
An effective way to ensure that your affairs can be protected and safely managed in the event of mental incapacity is through the use of an inter vivos trust, which is a type of trust set up during your lifetime,
The estate planning mechanisms required to assist with the management of a dementia patent’s affairs also come at a price. Where someone has an early dementia diagnosis, setting up a Special Trust Type A to house the assets of the
Before setting up the trust, you will need to consider whether it should take the form of a testamentary or living trust. A living, or inter vivos, trust is set up during your lifetime using a trust deed as the
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
In terms of the Mental Health Care Act, a ‘mental illness’ is defined as a positive diagnosis of a mental health related illness in terms of accepted diagnostic criteria made by a mental health care practitioner authorised to make such
A very effective option for the administration of your spouse’s financial affairs is to set up a Special Trust Type A which is a trust created solely for the benefit of a person with mental or physical disability and which
An alternative to appointing a Curator Bonis or Administrator is to set up a Special Trust Type A, which is a trust created solely for the benefit of a person with a mental or physical disability which prevents him from
