pension interest
If you are awarded a share in your spouse’s pension interest as part of your divorce settlement, it is imperative to get sound financial advice in this regard. There are a number of options available to you, all of which
Cashflow and liquidity are also important considerations when setting up an RA, keeping in mind that the funds housed in a retirement annuity may not be accessed before you reach age 55 – subject to a few exceptions. There is,
Being legally married in South Africa creates what is referred to as a reciprocal duty of support which means that each spouse owes to the other a reciprocal duty to provide for the other which can include accommodation, clothing, food,
Estate planning is an important exercise for coupled married with the accrual system to undertake to ensure that each spouse is adequately provided for in the event of tragedy. The accrual comes into effect when one spouse passes away which
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
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.
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.
An uncontested divorce requires that the couple works together to agree to the terms of the divorce in respect of how their assets will be divided, how their children will be cared for, and what maintenance will be paid, if
An incorrectly drafted clause in the divorce order can result in the fund rejecting the settlement agreement and refusing to pay out the pension interest – which in turn would require the non-member spouse to bring a costly court application
