Tag: inheritance
Fixing lengthy delays on deceased estates
Losing a loved one is hard. It’s even more difficult to deal with such a loss in the face of long and complicated estate administration processes. It can become emotionally and financially taxing. In South Africa, it is not uncommon for a deceased estate to take two to five years to finalise.
Pension funds & emigration – tax impact
Investing in an offshore retirement fund is one way of growing your wealth in a stable economy over the longer term, or even gaining residency in a foreign country. However, for South Africans, this scenario presents as many challenges as it does opportunities and should only be considered after consulting with a financial adviser and tax expert.
Entrepreneurship – when it’s time to start protecting your wealth
There comes a time in every successful entrepreneur’s life when he or she has to consider how best to transition to the preservation of the wealth they’ve built, not only for their own enjoyment, but also for the sake of the legacy they want to leave behind.
What can happen to your family if you have no will?
Between 70 and 80 percent of South Africans do not have a will to protect their loved ones in the event of their untimely death. Unfortunately, this will not only burden the surviving family members with unnecessary emotional and financial stress but will also delay them gaining access to their rightful inheritance.
Make sure you have the correct Will to cover your offshore...
When considering purchasing property overseas make sure you have the correct Will to cover your offshore assets.
National Wills Week – to have and to hold a signed...
National Wills Week will be held this week from 13 to 17 September 2021. This is an ideal opportunity to draft a will or to review an existing will. In recent times, we have come to realise that death can happen to anyone, at any time. Death does not discriminate against age. Whether you’re young or old it is therefore important to ensure your affairs are in order.
Protecting your legacy: family trusts under the spotlight
Wealthy parents are often concerned about the preservation of their hard-earned family fortunes for their children, and rightly so: research has shown that around 70% of young heirs end up failing as custodians or stewards of the family wealth, sometimes squandering it within a few years after inheritance.
Surprising ways divorce can affect your Will
This year, nearly one in five married South Africans will make the decision to start afresh and get a divorce. As you put your life back together after a relationship split don’t get distracted from updating your Will to reflect your new status.
Emigrating? – ensure your tax affairs are in order
While South African citizens temporarily working overseas are still subject to South African tax laws, individuals who wish to permanently emigrate to a new country need to ensure that they follow the correct steps to enable them to take their savings with them and avoid running up against unnecessary tax problems down the line.
