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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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...
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...
Jointly owned bank accounts in the British Isles – pitfalls and planning strategies
By Oliver Charles Phipps, FISA member and Solicitor in England with Lester Aldridge It is quite common for an individual in South Africa to own a bank account which is registered in the British Isles. This may be because he or she originated from...
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...
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...
Would you pay more for a restaurant meal than a Will?
It would appear that some South Africans are prepared to pay a couple of hundred rands for a restaurant meal, yet are not happy to pay an expert the equivalent to draft their Will, a vital document that speaks for you when you are gone. Recent...
