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South Africa has seen a significant increase in the number and payouts of claims against the Road Accident Fund (RAF) as well as in medical negligence cases. A major concern is the protection of the awards made to people who were severely injured or who have reduced...

One must understand the different marital regimes in South Africa and the impact of one’s choice. It was the American humourist Erma Bombeck who said: “Marriage has no guarantees. If that’s what you’re looking for, go and live with a car battery.” A bit of dark...

Louis Van Vuren, CEO of the Fiduciary Institute of Southern Africa, points out that the legislation cannot be rationally connected to the purpose for which it was promulgated. AMANDA VISSER: Last year South Africa really pulled out all the stops in an effort to avoid...

The Fiduciary Institute of Southern Africa (FISA) is lobbying the Parliamentary Standing Committee on Finance (SCOF) regarding various issues, including inappropriate use of the term “beneficial owner,” in proposed amendments to the Trust Property Control Act. A...

How beneficiaries are defined in the trust deed should be conducive to the purpose of the trust. The choice should be in line with your familial circumstances and your estate plan. It is important to know that only a beneficiary can benefit from a trust, no one else....

When it comes to claiming a foreign inheritance bequeathed to you abroad from a South African Estate, irrespective of whether you are living in South Africa or not, there are some important facts you should be aware of.  During the 2022 Budget Review, the...

A Trust is a contractual agreement whereby a Founder and Trustees hold property as its nominal owner to the benefit of one or more beneficiaries. When considering setting up a Trust, be mindful of maintaining a valid legal...

This is a summary of the article as it appeared on FISA, of which we are supporters. If you have a life partner that you did not get married to and they die without a will or failed to provide maintenance, you have more rights after the constitutional court decision...

In estate planning, you must understand certain legal terms, the difference between those terms and what they actually mean. You may know by now that you need professional help to plan your estate. Today, we look at another difficult term within estate planning,...

What is cryptocurrency A cryptocurrency is a virtual or digital currency that is secured by cryptography. This makes it nearly impossible to double-spend or counterfeit. Another way to see it is that cryptocurrency is digital assets based on decentralized systems that...

Fisa chair Ian Brink explains how vague or unclear testamentary instructions when drafting a will, as well as inadequately identified heirs, can delay the finalisation of this important document. Visit Site

It is only human to want to savour life; thinking about what to do with the time you have, and planning holidays and get-togethers with the people you love. However, having a Will and planning your estate properly will have an equally large impact on the lives of your...

National Wills Week will take place from 26-30 October 2020 Why must you have a will? By making a Will you ensure that your assets are disposed of in accordance with your wishes after your death. This is called “freedom of testation”. Dying without leaving a valid...

Benjamin Franklin once said there are only two things certain in life: death and taxes. Coming to terms with death and the afterlife should be left to metaphysics and theology. Coming to terms with the Tax you have to pay when you die is an entirely more...

Setting up Trusts for Life Insurance gives you greater freedom and control over your Life Insurance payouts. Whether to protect your Life Insurance policy from creditors and tax, or to control the way your beneficiaries spend their inheritance, an Irrevocable...

Trust and Fiduciary Services have a variety of different applications. Creating plans and implementing them to safeguard your assets, secure finances for your loved ones and avoid unnecessary expenses all form part of Trust and Fiduciary Services. What are trust and...

Many South African’s remain ignorant of the possible ramifications of not drafting a final Will and Testament. Not drafting a Will, in the proper legal manner, can result in: The government allocating your Estate to the parties it stipulates to be most fitting, irrespective of your intentions Familial disputes over who gets what According to…

Many people fear the possibilities involved in creating and growing their wealth and how it will be distributed following their death. These possibilities can include: Creditors ceasing your assets Your family becoming bankrupt Your heirs spending their inheritance unwisely Luckily, within Trust and Fiduciary services, you will be able to create a Trust for asset…

For advice on Trusts and Fiduciary services, click here. What are Trusts? A trust is a legal relationship between people, dictating the distribution of assets between them. Trusts are most commonly used to separate assets from your Estate, offering them protection from creditors and stipulating how they are administered. Since Trusts are a separate legal entity from…

In choosing to create trusts, many people overlook the value in creating a lifetime trust. Most would think it exorbitant or unnecessary to pay out a trust for such an extended period of time, but the reality is that it is one of the most secure ways of ensuring your family’s financial security in the…

Introduction Now that the Family Trust has been registered and the Letters of Authority been issued by the Master of the High Court, you need to start the administration process of the trust. The Trustees now have the authority to act on behalf of the trust: – Open a banking account – Register as a…