Testamentary Trust
Another legal requirement for the validity of your will is that you must sign in full at the bottom of each page, while your witnesses must sign in full at the bottom of the last page as close to your
Saving for retirement may feel like an impossibility for a single parent, especially when your children are younger and the continuous stream of expenses seems insurmountable. It may help to remind yourself that saving for retirement is a long-term process
If you have a large portion of your accumulated wealth invested in your business, then it is important to consider what will happen to your business interests in the event of your death. It is likely that you intend for
In theory, your bank accounts should be frozen in the event of your death. However, in practice, there is generally a delay between your death and the appointment of your executor whose job it is to notify your financial institutions
The real benefit of a living trust is that because trusts don’t die, assets housed in a trust can move from generation to generation without being subject to estate administration and the associated costs thereof.
Remember, the residue of your estate is what is left after all debts and estate costs have been paid, and after all, bequests have been made, so it is important to ensure that the inheritance intended for your heirs is
If you are self-employed, you may want to consider implementing mechanisms to ensure that your personal assets are protected from business creditors; whereas if you have interests in a business, business assurance mechanisms can be employed to ensure that these
The type of policy you have in place, together with the applicable regulations, will impact both your beneficiary nomination and the policy's payout, so it is important to understand the nature of each policy you have in place.
If there are specific assets in your estate that you intend bequeathing to your minor children, it is important that you provide for this carefully in your Will. Remember, in terms of our law, children under the age of 18
While trustees are able to outsource the accounting functions of the trust, keep in mind that they remain responsible for the management of the trust assets. This includes keeping separate records of the trust assets, preparing annual financial statements, investing
