Dying is an expensive business, and not only because of the cost of the funeral. There are multiple death taxes and fees that need to be paid when someone dies. If you don't plan for these, they will reduce the value of the legacy you were...
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Video: Avoid family fights with a simple will
According to research by Sanlam, 75% of South Africans do not have a will. Nearly half of those who don’t have a will believe they don’t own sufficient assets to make a will worthwhile, but you'd be surprised at the family fights that can ensue...
Listen: Drawing up a will
In this podcast Maya speaks to wills and estate specialist Alex Simeonides, CEO of Capital Legacy, about the things to keep in mind when it comes to drawing up a will. Alex answers the following questions: Why are we so afraid to sign a will? How...
Why your beneficiary nomination form is so important
Most people have some form of insurance or death benefits. This could be a policy taken out for a specific reason, or simply because they are employed or a member of a retirement fund. How these death benefits are paid and to whom, all depends on...
Death benefit: what you need to know
After the death of a loved one, you may be entitled to a death benefit. Rita Cool, certified financial planner at Alexforbes takes a look. During what is a very emotionally-charged time, the paperwork which nominees are required to complete in...
Listen: Managing the end-of-life transition
In this third part of a series of conversations around life transitions, Maya (@mayaonmoney) speaks to Louis van der Merwe of WealthUp about the biggest transition of all: death – or what could be called the "end-of-life transition". Death is a...
How to provide for your financial dependants
Providing for your family if something happens to you is a priority for every parent. There are several things a member of the Government Employees Pension Fund (GEPF) needs to do to make sure their financial dependants are taken care of. Update...
Is a living will legally valid and enforceable?
Juan Buys, Fiduciary Specialist at PPS Fiduciary Services, explains that a living will may not always be enforceable. Sometimes family members face a difficult situation when a decision has to be made about a loved one in circumstances in which...
Beware the pitfalls of bequeathing property
When bequeathing property, make sure you have done your estate planning properly. For most middle-class families, the primary residence is the most valuable asset in their estate, as retirement funds fall outside of one’s estate. It is not uncommon...
Who will inherit your property?
When a person dies intestate (which means without a will), it can become a legal and financial nightmare. If you have property, it’s important to have a will in place which takes the law into account (such as the type of marriage contract you...
Previous Articles
Unmarried couples and death – how to protect yourself and your partner
David Knott of Private Client Trust explains how unmarried couples can protect themselves in the unfortunate event that one partner dies. Many unmarried couples mistakenly believe that they are protected as “common law” spouses. However, South African law does not...
How your marital regime affects estate planning
Christel Botha, fiduciary services manager at Alexander Forbes, looks at the impact that various marriage contracts have in the event of the death of a spouse. The month of love has arrived, and many couples will be getting married, or planning a wedding. It makes...
Video: Review your will
Last week was National Wills Week, which is always a great reminder to review your will. If you don’t have one, make sure you prioritise this immediately. To find out more about what should be in your will and what makes a will valid, I am speaking to Monica Moodley,...
Unmarried couples must ensure they have a valid will
By Elmien Pols, Private Client Trust In these interesting times in which we find ourselves, it is not unusual for people to live together, have children, buy properties and run a business together without formalising their relationship, either through marriage or a...
Money Makeover: Planning for when you’re no longer around
Our Money Makeover candidates are all parents, so estate planning is a particularly important part of their financial plan. Read this article to get tips on what to look for when drawing up your will and making sure you have tax-effective estate planning. Follow the...
Video: Make sure your will carries out your wishes
A will is a very important document as it makes sure your wishes are carried out and protects your children when you no longer can. However, there are circumstances where your wishes can be superseded. Your retirement funds do not fall under your will. While you can...
Listen: Does your will reflect your wishes?
Who should you select as an executor and what happens to your retirement funds when you die? Maya (@mayaonmoney) and Mapalo (@womanandfinance) unpack what you need to consider when writing up your will. Further reading: What should you include in your will?...
Your retirement benefits may not end up where you plan
If you are formally employed you might have been required to join your company’s contracted retirement scheme, and they would have asked you to nominate a beneficiary for the proceeds in case you die before retirement. However, if you chose a beneficiary that is not...
Video: What should you include in your will?
A valid will ensures your wishes are carried out, makes it easier for your family, and protects your children when you no longer can. You need to nominate an executor to administer the deceased estate. You can appoint a professional executor or nominate a responsible...
A financial survival guide to divorce
Facing the breakdown of your marriage can be extremely painful emotionally, but with the right knowledge and planning, it needn’t be financially devastating as well, says Citadel Advisory Partner Kirsten Smit. “Getting divorced carries enormous financial implications,...