Did you know that a trust is not simply: a trust? There are many different classifications of trusts in South Africa, such as ownership trusts, bewind trusts and curatorship trusts. Trusts can either be created during a person’s lifetime, which is known as an inter vivos trust, or set up according to a person’s will after they die, which is known as a mortis causa trust. Different trusts give beneficiaries different rights, depending on how much […]
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Don’t Underestimate your Will Power
Avoid the heartache and headache! This year, National Wills Week is from 17th to 21st September, and is a time when participating attorneys in South Africa will draft basic wills for free. If you haven’t already written a will, this presents the perfect opportunity to do so before it’s too late. Writing a will could make an enormous difference to your family in the future, and it is an easily achievable goal that will give you […]
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6 Estate Planning Tips
In the wake of the 2018 budget, there are recent changes that could affect your estate, especially with regards to paying VAT, Master’s fees and estate duty. Here’s a quick snapshot! The good news is that executor’s fees remain at 3.5% of your total assets, plus VAT. However, as you’re likely all too aware by now, VAT has increased from 14% to 15%, which means that if your executor has registered for VAT, you will feel […]
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Different money personalities
Dealing with money matters can feel like negotiating a minefield for many couples, which is highlighted in this article by Maya on Money. Money has been cited to be the biggest reason for divorce, and differing attitudes towards money in any relationship can cause friction. So let’s take a look at some basic ‘money personalities’ and you can decide with which you most identify. This may not only help you to manage your relationships, but also […]
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Should we trust in trusts?
We live in uncertain times, so it is natural for many parents to want their children to have financial security, without money worries on top of everything else. Many parents also wish to build their wealth to such an extent that it will be passed down for generations to come, and a recent article published in Maya on Money examines the use of trusts to create intergenerational wealth and ensure a financial legacy. No matter how […]
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5 key financial terms explained
Do you nod along blankly when someone talks about unit trusts, or do your eyes glaze when you hear the word ‘annuity’? Do you wish investment terms weren’t so complicated or full of abbreviations? It’s easy to get confounded by the use of financial jargon if you haven’t been trained in the financial services industry or been exposed to the world of investments before. But don’t let that put you off. It’s just a question of […]
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