Tag: Gillan and Veldhuizen Inc

For many South African farmers, a farm is more than an asset – it is a family legacy, a business and often the entirety of their net worth. However, when it comes to estate planning, one critical factor is often overlooked: liquidity. Without adequate liquid assets, heirs may encounter financial strain and operational challenges. In some cases, they may even be forced to sell the family farm to meet estate commitments.

The Companies and Intellectual Property Commission (CIPC) has introduced new obligations for reporting beneficial ownership information. The deadlines are tied to each company’s date of inception. Businesses must declare their beneficial owners within 30 days of their anniversary date, similar to annual return filings.

It is that time of year again when you are swapping out your summer wardrobes for your festive season attire. You are having a long-overdue de-clutter and booking annual check-ups for the family. While you are at it, take the opportunity for your annual personal estate review to re-evaluate your estate documents and give the administrative side of your life a thorough spring-clean too!

Losing a loved one is one of life’s most challenging experiences. On top of the emotional turmoil, discovering that the original will cannot be located can add stress and confusion. However, steps exist to ensure your loved one’s wishes are honoured, even with only a copy of the original will.

Divorce, while undoubtedly difficult, is a common experience that many of us go through. Amid the emotional turmoil and the seemingly endless checklist of tasks, there is one crucial undertaking that often gets overlooked: and that is updating your will. This oversight can lead to unexpected consequences, especially when it comes to inheritance rights.

In the same way that prenuptial agreements are considered a necessity for many marriages, business partnerships require meticulous planning to safeguard against the consequences of potential disputes and ensure a smooth separation if the need arises. By incorporating comprehensive shareholder agreements or Memorandums of Incorporation (MOIs), businesses can protect their interests and foster fair and equitable outcomes during unforeseen conflicts.

Life can be unpredictable and challenging, and there may come a time when you find yourself unable to repay money you owe someone. Ignoring the issue or failing to make arrangements can lead to legal action against you, which often involves receiving a summons.