Testamentary Trust
The matrimonial property regime under which a person is married will naturally impact on the estate duty calculation. Where a couple is married in community of property there is only one estate. This means that should one spouse die, the
A family trust is generally set up as a living trust to house and protect assets for the benefit of family members across multiple generations. As such, the trustees of family trusts are family members, as are the beneficiaries. It
As a single parent, if you are unable to generate an income, you will not have a spouse or partner whose income you can fall back on. An income protection benefit is an excellent way of ensuring that you will
There are a number of circumstances that can disqualify a potential heir. Firstly, any person who writes a Will, or any part thereof, on behalf of the testator can be disqualified from inheriting, as is the writer’s spouse. Similarly, the
A testator can make a special bequest in his Will if he wants to leave a particular asset to a beneficiary (legatee), bearing in mind that the beneficiary does not need to be related to him. After your executor has
Traditional disability assurance is based on whether or not you are physically able to work. Occupational Disability assurance is generally divided into (a) own occupation, (b) own or similar occupation or (c) any occupation. These definitions will determine whether you
No guardian can sell or mortgage any immoveable property belonging to the minor unless permission has been granted by the High Court, keeping in mind that the court will also act in the best interests of the child.
In terms of Section 37C, if the deceased has no financial dependants and his estate is solvent, the trustees must pay the nominees in the proportions in which they were nominated but only after a period of up to 12
If your fixed property is bonded and you have the appropriate level of bond cover in place, your executor will settle the bond using the proceeds of the life cover and bond cancellation instructions will be issued, thereby allowing your
