By taking these proactive steps, you can secure your legacy, provide for your family's future, and find peace of mind knowing that your affairs are in order.
A stokvel written agreement serves as a legally binding contract that outlines the terms and conditions governing the stokvel's operation. By documenting the rules and responsibilities, all members can have a clear understanding of their rights and obligations
If the marriage ends in divorce or one spouse faces insolvency, the communal property must be divided equally between both partners. This can lead to the unintended consequences of having to part with hard-earned assets, even those owned before the marriage.
Repo rate hikes, determined by the South African Reserve Bank, impact the cost of borrowing money, including mortgage interest rates. As repo rates increase, homeowners may face higher monthly mortgage repayments, making it challenging to maintain their properties.
In the absence of a marriage certificate, initiating divorce proceedings in a customary marriage may require a lobola letter. A lobola letter is a written acknowledgment by the families involved, confirming the marriage and outlining the terms of the lobola agreement.
If the man passes away and is survived by his legal spouse and the "other woman," the "other woman" may have a claim for maintenance if she can prove that she was receiving or entitled to receive maintenance from the deceased during his lifetime.
Both options have distinct advantages, and understanding their benefits is crucial in making an informed decision that aligns with your specific needs and objectives.
