retrenchment
If you’re fit and healthy, you may want to remain in the family home for longer. You may also not feel ready to enter into a retirement home or village while you are still enjoying good health, which is understandable.
Once you have converted your retirement funds into a life annuity, living annuity or a combination of the two, keep in mind that you will not be able to make lump sum withdrawals and it is, therefore, important to plan
All couples should plan for the reality that one partner will outlive the other and contemplating what life will look like alone is an important discussion for couples to have. Developing a joint estate plan is an essential part of
If you lose your job as a result of your employer ceasing operations or are made redundant as a result of general operational requirements, any lump sum from an occupational fund is regarded as a retrenchment benefit for tax purposes.
When financing a property using a home loan, it is common for the financing institution to insist that you take out bond cover as security for the loan. While most financing institutions offer bond cover to their customers, it is
Remember, your severance benefit will be taxed as per your retirement benefit with the first R500 000 being tax-free. When calculating your tax-free portion, bear in mind that SARS will take into account all previous taxable withdrawals, retirement benefits and
If you are left in a vegetative medical condition from which there is no hope of recovery, the onus will fall on your loved ones to make difficult decisions regarding your medical care – including whether to remove you from
Before making the decision to emigrate, it is advisable to review your plan to ensure that you fully understand the financial impact of doing so. Regardless of where you intend relocating to, emigration is an enormously expensive undertaking that requires
The best place to house your emergency funding is in a vehicle which allows you immediate access to your cash, earns interest, and which you ideally cannot access via your debt card. While fixed deposits and notice accounts can earn
