trusts
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
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
Talking to family, friends and colleagues about your personal finances should really only be done with your partner’s consent. Finances are highly personal, and it is only understandable that a partner would feel aggrieved if the other partner discusses your
It is important to note that the beneficiary’s disability must be formally diagnosed by a medical practitioner, must have lasted for a period of more than 12 months, and must be considered irreversible in nature.
Donations can be used effectively in conjunction with an inter vivos trust to reduce the value of your estate during your lifetime. By reducing the value of your estate, you will effectively reduce your estate duty liability while at the
If a couple is married with the accrual system, the spouse’s pension fund interest will be taken into account when determining the value of his estate for the purposes of the accrual calculation, and a claim can be laid to
Special trusts are those which are created for people with special needs, for example individuals with serious mental or physical disability and who are unable to provide for themselves financially.
