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Can a mistress inherit from a married man’s estate?

Can a mistress inherit from a married man’s estate?

Marilyn Monroe, Marla Maples, Michelle McGee, and Kristen Stewart – all successful women in their own right, with one controversial commonality – they were mistresses to married men. The term ‘mistress’ is an inflammatory one – a name as...

Spouses need to review their finances

Spouses need to review their finances

Changes to the taxation of estates could leave a surviving spouse with a hefty tax bill. Last month the Davis Tax Committee (DTC) issued an update on its tax recommendations especially around so-called “death taxes”. Some of the key recommendations...

Don’t get caught out by a poorly thought-out Will

Don’t get caught out by a poorly thought-out Will

By David Knott, fiduciary expert at Private Client Trust Buying insurance, and drafting and updating your Will, can be put next to each other on the list of things that we don’t really want to do, and often put off doing. For many of us insurance...

Should I put my assets in a family trust?

Should I put my assets in a family trust?

Lebo writes: My brother has suggested that I form a family trust and put my house, car and investments into it in order to protect them. Is this a good idea? Frank Magwegwe, head of Momentum Personal Adviser Services at Momentum Retail replies:...

Understand your marriage contract

Understand your marriage contract

Many couples underestimate the importance of their marriage contract, and the implications it has in the case of death or divorce. Watch Episode 16 of the Change in your Pocket series for a detailed explanation of the various marriage contracts. –...

The ins and outs of a buy and sell agreement

The ins and outs of a buy and sell agreement

Tanya Lochner of Glacier Fiduciary Services discusses a buy and sell agreement as an exit strategy where there are two or more partners in a business. A business needs to prepare for the event of one or more of the partners dying or becoming...

Common mistakes to avoid when drafting a will

Common mistakes to avoid when drafting a will

If you have a will, you’ll have the last word on what should happen to the fruits of all your hard work when you are gone, right? Not quite, says Sanlam Trust legal adviser, Clive Hill. Wills have split up families, turned siblings into prime...

You probably need a foreign will if you have invested offshore

You probably need a foreign will if you have invested offshore

Since the relaxation of exchange control, and as the Rand continues its downward slide, many South Africans are investing offshore with important consequences for their estate planning. If you have invested offshore, consider whether you need a...

Retirement annuity tax loophole to be closed

Retirement annuity tax loophole to be closed

By Tanya Lochner, fiduciary specialist at Glacier by Sanlam In the foreseeable future retirement annuities will no longer fall outside of your estate for estate duty purposes, so bear that in mind when you do your estate planning. Since 2007, a...

Maya Fisher-French author of Money Questions Answered

Previous Articles

Am I obliged to leave my estate to my family?

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 In many countries around the world there are forced heirship laws in place which have evolved over many years of...

All the ins and outs of estate planning

As much as people realise there is a need to ensure they have planned for their family's financial future after their passing, many do not understand the different aspects of estate planning and the negative impact that a lack of planning can have on their family....

Bequeathing property in your will – how it can go wrong

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 professional assistance in...

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 Director, Baraza Wealth,...

Picking trustees for a family trust

Who should act as trustee for a family trust? A family member, a professional independent trustee, or both? This is one of the biggest decisions to be made in estate planning – and it’s a decision which can have massive consequences for the heirs and the estate if not...

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 heirship, which means...

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 before her leaving no...

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 Mutual recently dealt...

Getting your admin in order

While it is very important to keep track of your day to day expenses as well as your longer term financial goals, you also need to ensure that your financial administration is up to date. If you need to urgently get hold of vital paperwork do you have any idea where...

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