Newsletter / Blog

Can a trust be used to avoid maintenace obligations prior to divorce Caveat Emptor.pdf

Added: 2014-07-20 08:20

Wills and formalities a recent AD case.pdf

Added: 2011-04-25 07:27

Trust and insurance policies.pdf

Added: 2011-04-25 07:26

Business Financial Planning.pdf

Is the term business assurance not outdated in the new compliance environment?
Added: 2011-02-18 04:50

Deceased estates and CGT.pdf

CGT, even more than estate duty, can have a serious impact on the cash flows of a deceased estate
Added: 2011-02-18 04:44

Trust and CGT 1.pdf

Basic CCT principles applicable to trusts
Added: 2011-02-18 04:43

Trust and CGT 2.pdf

CGT avoidance rules and trusts
Added: 2011-02-18 04:42

Estate duty and compliance.pdf

SARS has a twin brother named FAIS
Added: 2011-02-18 04:41

Retirement annuities and taxation.pdf

How does the medical aid deduction increase the tax benefit when contributing to a RA?
Added: 2011-02-18 04:38

Can a Trust be used to avoid maintenance obligations prior to a divorce? - 2014-07-21
The law of trusts constitutes a dynamic and rapidly changing field of South African law.  Since 2004 there were a series of judgments that emphasized the importance of adherence to basic trust principles in the formation and administration of trusts. Although a trust as an instrument of estate planning enjoys enormous relevance, the abuse o... more

A correctly managed Trust will survive the double tax on death in South Africa. - 2014-01-15
Persons who are ordinarily resident in South Africa pay taxes on their world wide assets in the event of their death.  During 2001 Capital Gains Tax was introduced which, in addition to Estate Duty, is levied on a deceased estate.  The combined effect of the two taxes since the recent increase in the capital gains tax rate calls for many ... more

Parent trustees beware! - 2012-08-15
  Parents acting as trustees � Beware! Beneficiaries of trusts are lately better informed of their rights and enforcing them, often acting contrary to what the estate planner had in mind when the trust was established. Many family trusts are established for the benefit of their children and parents act as trustees of the trust... more

The role of a financial planner and the drafting of a Will � Recent Supreme Court of Appeal case lambasted a financial planner. - 2012-06-14
In a recent Supreme Court of Appeal is was stated: - �It is a never-ending source of amazement that so many people rely on untrained advisers when preparing their wills, one of the most important documents they are ever likely to sign.� - Raubenheimer v Raubenheimer  (560/2011) [2012] ZASCA 97.   This was the c... more

Trusts - an alter ego case with a twist - 2012-06-12
  There is no doubt that in recent times our courts are continuously faced with factual issues that present themselves in the area of trust law in South Africa. In most instances the dispute revolves around the failure to appreciate the core concept of trust law, namely the separation of ownership and control from enjoyment.  In a rece... more

Unmarried couple living together as husband and wife � tacit universal partnership � Butters v Mncora (181/2011) [2012] ZASCA 29 � (28 March 2012) - 2012-04-05
The Supreme Court of Appeal recently had to decide whether a woman living with a man have any claim to the assets of the man she was living with. The facts of the case 1.      Mr Butters (B) and Ms Mncora (M) lived together for 20 years as husband and wife, but were not married in terms of the laws of the Republic of Sout... more

What is the legal position if a nominated beneficiary predeceases the policy holder � PPS Insurance Company v Mkhabela (159/2011) (2011) ZASCA 191 - 2012-03-28
What is the legal position if the owner of a life assurance policy nominates a third party who predeceases the owner of the policy and the owner subsequently dies without changing the beneficiary nomination?  Will the beneficiary receive the policy proceeds or will the deceased�s estate? Recently the Supreme Court of Appeal had to... more

Newsletter � Changes to Deferred Compensation Schemes � 2011/2012 - 2011-11-01
  The Taxation Laws Amendment Bill introduced in the National Assembly was released on 25 October 2011. This newsletter deals with the relevant changes. In this newsletter I will not discuss the merits of deferred compensation in detail since recent legislation made sweeping changes. A general discussion of deferred compensation policies an... more

Recent Supreme Court of Appeal case on variations of a trust - 2011-10-11
  Many trusts were established in recent years as part of an estate planning exercise. It seems that a new era in trust law is daunting upon us, namely the focus of our courts on the maintenance of a trust. So often a trust is established, but because of a change in personal circumstances the purpose of establishing the trust becomes no longe... more

Trust assets not protected. Recent case law - 2011-09-13
In times of economic downturn will your trust be able to do what it was designed for? In a recent case (FNB v Britz � 20 July 2011) it was held that trust assets could be attached by creditors. Facts of the case A commercial bank made application to the North Gauteng High Court for a declaratory order, in terms of which the assets of ... more

Wills and Estate Duty savings - 2011-09-06
  Dear Readers,   In this newsletter I wish to discuss an estate duty saving opportunity that can be achieved with proper planning. It is recommended that when estate planners draft the last will and testament of a client that the following considerations are taken into account. Assume that you have a scenario where an estate planne... more

Trust law - the rights of beneficiaries - Recent Supreme Court of Appeal case - 2011-08-17
  Dear Readers,   Trust law - the rights of beneficiaries - Recent Supreme Court of Appeal case Trusts are often arrangements that involve family members and more likely to house assets not duly sought and worked for by many of the beneficiaries. These factors are conducive, and give good reason, for family disputes - something that... more

Trusts and Donations Tax - Welch's Estate v SARS - 2011-07-14
  Dear Readers,   It is often stated that the use of a trust can solve many problems. In this newsletter/ blog I wish to discuss a Supreme Court of Appeal case (Welch�s Estate v CSARS 2005 (4) SA 173 (SCA)). The benefits of trusts are often overlooked by financial planners and the important role that they can play in assis... more

The interpretation of Wills - A recent Supreme Court of Appeal case - 2011-06-26
  Dear Readers,   Lately we find many court cases dealing with Last Wills and Testaments. Most of these cases deal with the formality requirements in terms of the Wills Act, but in this newsletter I wish to discuss a recent court case that deals with the interpretation of a Will.   The estate duty consequences relating to th... more

The 2011 Draft Bill and section 11(w) policies. - Welcome changes! - 2011-06-05
  Dear Readers,   The Draft Taxation Laws Amendment Bill, 2011 was released on 2 June 2011. The Draft Bill provides some clarity in respect of the tax treatment of key person policies.   The old position.   Previously, the tax treatment of key person plans depended whether the plan was conforming or non-conforming. ... more

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