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Wealth, Wives, and Legal Challenges: Estate Planning in Polygamous Marriages
Polygamous marriages in South Africa require careful navigation of legal frameworks to ensure the equitable distribution of assets. This case highlights the judiciary’s commitment to fairness and the importance of proactive estate planning.
The Price of Dying Without a Will & Minor Beneficiaries
In South Africa, minor beneficiaries face the prospect of funds being locked into the Guardian's Fund, a government-managed entity. While intended to protect minors' interests, this process can be lengthy, bureaucratic, and subject to administrative fees.
Is a Family Trust the Middle-Class Miracle for South African Families?
Do you need a will or a family trust? The answer depends on individual circumstances, financial goals, and the commitment to compliance with SARS regulations. While family trusts can offer significant benefits in terms of wealth protection and distribution, they also come with associated costs and complexities.
Read This Before You Register A Family Trust
Transfer Assets Correctly: When transferring assets into the trust, it's important to follow the proper legal procedures to ensure that the transfer is valid and legally binding.
The Complementary Role of Wills and Family Trusts in South Africa
A will serves other essential purposes beyond asset distribution. In South Africa, it can include vital instructions on handling one's remains and burial preferences. This is particularly crucial for those who wish to express their desires regarding funeral arrangements, memorial services, or even the choice of burial location.
Fortune Funnels: Kickstart 2024 with Estate Planning – Because Leaving a Legacy is the Classiest Resolution
Estate planning is a crucial step in securing your legacy and ensuring your wishes are honored. It provides peace of mind by safeguarding your assets, minimizing tax implications, facilitating a smooth transition of wealth to your loved ones.
Safeguarding Tomorrow: Family Trusts and Guardians Funds In South Africa
less than half of the outstanding payments to beneficiaries have been disbursed, as reported by the Department of Justice and Constitutional Development. This delay poses a real threat to beneficiaries, hindering their ability to access the funds intended for their well-being.
Constitutional Court Judgment Explained: Do Antenuptial Contract Matter?
In simple terms, individuals who entered into marriages without the accrual system while married out of the community of property will now have the right to request a redistribution of assets, regardless of the terms outlined in their antenuptial contract.
Secure Your Legacy with FREE Wills Week: Crafting a Future You Can Count On
In a world brimming with uncertainties, there's one certainty we often overlook—our legacy. The LSSA National Wills Week, slated from September 11th to 15th, 2023, beckons us to face this inevitability head-on. Don't just postpone your estate planning; empower yourself to shape your future and provide for your loved ones, even when you're no longer here.
The Rights of the “Other Woman” in Claiming Maintenance from a Married Man’s Estate in South Africa
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.