By David Knott of Private Client Trust, the fiduciary services division of Private Client Holdings, and a member of the Fiduciary Institute of South Africa. When it comes to leaving fixed property to someone in your will, unless you have had...
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Finding your financial feet after a divorce
Considering that almost three marriages end in divorce in South Africa, and research indicates that women are the hardest hit financially after divorce, finding your financial feet after this devastating event can be one of your lifelines....
Estate planning around divorce
Experiencing the emotional turmoil of a divorce is bad enough, but going through a divorce when you are financially dependent could make your problems even worse. Angelique Visser, Chairperson of the Fiduciary Institute of Southern Africa and...
Is your will worth the paper it’s written on?
There are times when the instructions contained in your will might not be carried out as you intended. South Africans have always believed that they enjoy total freedom of testation - unlike many other countries where legislation imposes forced...
Nguni customary law does not recognise the rights of an unwed partner
A landmark ruling raises the issue of a woman’s right to inherit outside of wedlock regardless of what Nguni customary law dictates, writes Mkhululi Ngxumza A married woman inherits all kinds of assets from her husband, her children, who may die...
Your will holds your wishes, but be careful what you wish for
When you die all your assets such as your bank account and investment policies are frozen and will only be released once the estate has been finalised. If you do not have a will this can take years to resolve. Sorè Cloete, Legal Manager at Old...
Dying without a will
“My husband died without a will. We were married under customary law and I want to know what will happen to his money. We have two young children,” writes Nomsa. Maya replies: Having a will in place that provides instructions on how your money...
Receiving a death benefit
A reader recently wrote to City Press to question how his late wife’s pension benefit had been distributed and whether it was in accordance with the law. It raises some interesting points about the provision of the law and the role of...
Who gets your retirement fund benefits when you die?
If you've nominated someone other than a dependant as the beneficiary of your retirement fund, your wishes might not be honoured when you die, even if you've made that person the sole beneficiary of your estate. This is because pension fund...
