What happens when you pass way without a will? Jun 25 2017 17:18 Johannesburg – When a person passes on without a will, they forfeit the privilege of deciding what should happen to their estate and the estate gets allocated in terms of pre-determined legislated guidelines, known as intestate succession. In other words, that person has no say in how the estate should be apportioned. “Having a Will in place should from part of broader legacy and financial planning, with specific focus on the estate planning piece. Evidently, this is a subject most people avoid because it involves death. However, not having a will can be traumatic on the family – in some instances quite expensive,” explains Vijay Morarjee, CEO of FNB Fiduciary.

Retirement fund landmines at divorce Aug 31 2017 18:28 Cape Town – Sharing the spoils of a failed marriage tends to bring out the worst in people, says Sohini Castille, head of employee benefits consulting at 10X Investments. “Divorce is a painful and, in many instances, bitter process. Even more so if the parties don’t act in good faith. For many, it’s less about a fair settlement and more about winning the war and punishing the other party. That can manifest in unreasonable demands and in subterfuge, to get one over on the other side,” says Castille. Clients and others regularly exhibit this type of attitude in questions posted on the 10X website on the subject of retirement funds and divorce. “As men often have the larger retirement savings, it is frequently women who risk losing out,” says Castille. The laws governing this – the Divorce Act, the Pension Funds Act and the Income Tax Act – are clear. But, Castille says, they are also precise, facilitating numerous circumstances – sometimes created deliberately – that can leave one partner with less than expected, or even empty-handed.

Are you facing a tax audit by SARS? Know your rights May 28 2018 06:01 *Graeme Palmer A taxpayer who is subject to a tax audit has certain rights to engage with SARS, which includes the right to be advised of the audit findings, and, where there are any potential adjustments of material nature, the taxpayer has 21 business days to respond in writing to the outcome of the audit.