succession planning
A retirement at age 55 means that you still have a potentially long-term investment horizon and, as such, you will need to ensure that you are invested appropriately for this time period. You will need to ensure that your investment
Unlike retirement funds whose distributions are subject to Section 37C of the Pension Funds Act, member owned living annuities are free to nominate beneficiaries to their investment. In this regard, living annuities differ from guaranteed life annuities which, generally speaking,
The executor is then required to advertise the deceased estate so that any potential creditors can register their claims. To do this, the executor will need to place a Section 29 advert in the local newspaper and government gazette in
If you have minor children and are the first-dying parent, the surviving parent will be the legal guardian to your children. In the absence of a living guardian, the Master will appoint a guardian for your children after taking into
The assets in the estate may only be distributed amongst the beneficiaries once all the estate’s debt has been settled, including SARS. As such, the executor is required to advertise the deceased estate so that any creditors can register their
A usufruct is created where a testator gives someone the right to the income or use of a specific asset, such as a house. For example, a husband may grant his wife usufruct over their home until she dies, although
If you have minor children, not making provision for a testamentary trust can lead to problems and unintended consequences after your death.
In your estate planning file, you can include instructions pertaining to your burial or funeral. This can be in the form of guidance to your loved ones as to whether you wish to be buried or cremated, where you would
If you have minor children, the other parent will be the legal guardian to your children in the event of your death. However, in the case of simultaneous death or where the other parent is no longer alive, the state
f a business owner dies or becomes permanently disabled, he would naturally want to ensure that the remaining shareholders have enough capital to buy his shares from his deceased estate. Depending on the value of the business, the surviving shareholders
