Retirement planning – Distributing retirement fund death benefits
Allocating death benefits, and determining appropriate methods of payment Once the board of trustees has determined the beneficiaries and is satisfied that its proposed allocation is fair and equitable, the beneficiaries must elect how they would like to receive the death benefit. The final duty of the trustees is to determine the most appropriate manner […]
With proposed Tax changes to Trusts, are they still worth while?
Proposed tax changes by the Davis Tax Commission are threatening the taxation of trusts and people are starting to wonder if they should move assets out of trusts and if they should still consider a trust in their financial planning at all. Some fundamentals around these entities should be carefully considered before making rash decisions […]
Should I draft a Will?
A mother who has always wanted her daughter to inherit her diamond engagement ring may never get her wish if she dies without leaving a valid written will. The mother’s estate would then be distributed in terms of the Intestate Succession Act No. 81 of 1987. Taking the time to draft a will can leave […]