A financial planning guide for parents-to-be
"You can't leave your child's future to chance, so consult your financial planner about choosing appropriate cover..." [...]
estate planning
Trust Funds part 3: Trusts and taxation
When it comes to the taxation of trusts, understanding the terms in the various acts relating to trusts can be confusing, but it’s important that all trustees are aware of how the assets held by trust will be taxed. A founder setting out instructions for trustees in the trust deed relating to what type of assets can be held needs to be aware of how these conditions affect the trust’s beneficiaries. Taxes relating to the trust can be attributed to the founder, the [...]
Trust Funds part 1: What you need to understand about trusts
What is a trust? It is a legal agreement between someone who owns assets (tangible and intangible) and trustees. Trustees are appointed to administer assets held within the trust for its beneficiaries. There are two types of trusts that can be set up. The first is a testamentary trust, created through a will and which comes into effect when the testator dies. The other, the focus of this week’s column, is an inter vivos trust, which is created while the founder or donor is still alive. [...]
Don’t put off drawing up your will
We know that death is inevitable, but we distance ourselves from our own mortality to the extent that we put off things like drawing up a will because “we can do it later”. But what if later never comes? You do not need to have millions in assets and investments to have a will. Feuds over things as trivial as cutlery prove that it’s not always about the money. If you are employed or run your own business; are part of a pension fund; have some furniture, a car or any other [...]
Where There is a Will, There is a Carefully Thought Out Plan
Very seldom do we like to think about the idea of dying, but it is inevitable and the sooner we plan, the better for those who survive us. For young people, drawing up a will isn’t at the top of your to-do list, however it is worth looking at if you own any assets or have polocies that pay out in the event of your death. You don’t want to leave a mess behind so it’s best you get things in order now – while you still can. We’ve compiled a list of 5 basic but very [...]
