Retirement fund contributions and Section 4q of the Estate Duty Act
RETIREMENT FUND PROCEEDS AND CONTRIBUTIONS ‘Pension interest’ from retirement funds, commutation, or part commutation from annuities due to past membership of a retirement fund, is not included as property for estate duty -Section 3(2) of the Estate Duty Act. (i) so much of any benefit which is due and payable by, or in consequence of […]
Overvalued policy proceeds on buy and sell agreements
Granted, it may not be often that proceeds of a policy, which is used to fund a buy and sell arrangement, is overvalued. If it is, as long as the planner can prove to SARS that there is / was a viable commercial reason for the decline in the share value of the company, this […]
Do we plan for simultaneous death?
How many of us understand the process of a simultaneous death of partners (married or not). This is quite a reality considering that couples generally travel together. How does one calculate estate duty and capital gain tax? What about succession? Do we plan for this? Have you nominated guardians for your minor children? Who […]
Minor Beneficiaries on Life insurance policies
Beneficiary nominations on life insurance policies can be a natural person, a trust, payable to the deceased estate, as per my will, to an organisation and so many others. The purpose of this article is not to debate the legality of whether the beneficiary must exist at the time or not or, and all the […]