NO TRANSFER DUTY PAYABLE ON TRANSFERS OF PROPERTY ARISING FROM DIVORCE TO ONE OF THE DIVORCED SPOUSES According to clause 16 of the Business Tax Amnesty and Amendment of Taxation Laws Act No.9 of 2006 a divorced spouse will not have to pay transfer duty on the acquired share of property. Previously the exemption only [...]
Your primary residential property in a marriage is most probably your biggest asset in your combined estate. If you are married ANC with accrual or in community of property then you have a claim against this property when you get divorced. The question however is how does one go about dividing the estate? Some questions [...]
Should your ex-spouse die will you receive your maintenance? Should your ex-spouse pay you rehabilitative maintenance or any other maintenance such as spousal or child maintenance that has been stipulated in your divorce order, it is of utmost importance that you secure it by taking out an insurance policy on your ex-spouse's life of which [...]
If you are married ANC with the accrual system, then it is easy to assume that you can claim 50% of your spouse's pension fund. The Divorce Act states that you are entitled to 50% of the combined estate with the above marriage regime, BUT the act does not state from which assets you should claim. Let's assume [...]
Two in three marriages today end up in the divorce courts and 50% of the couples cite finances as the leading cause of dissension. I have often wondered which is more powerful, the sword or the pen? But I have come to the conclusion that paper is far more important than both, especially if you [...]
Affordability of medical aid on a single income becomes a balancing act sometimes. Very Important points to remember during divorce: When you and your ex agrees that you will remain on his / her medical aid, then it should be written into your agreement and it should specify on which plan you will be covered and [...]
The World Health Organisation revealed the following facts: In 2007 a woman’s life expectancy at birth was more than 80 years in 35 countries. This should tell you that after divorce you should review your retirement planning. The likelihood of out living your retirement capital is a reality. Don’t create a financial plan based on marrying again, second [...]
Retirement: There are 4 events that will screw up your retirement planning: Resignation when you take the benefit in cash. Retrenchment. Early retirement. And off coarse divorce. Now that you are on a single income again, you need to re-think your retirement. Don’t count on Mr Right [...]
Questions to ask! Most people every now and then decide they are paying too much for their vehicle insurance. They do a quick call around and, depending on the price, stay where they are or switch insurers. To prevent yourself being caught short when it comes to pay out ask the following basic questions before [...]
Marriage regimes and Contracts Ensure that you read and understand every contract that you sign especially your anti-nuptial contract. Marriage is a legal agreement between two parties with financial consequences. Put the same amount of effort in to your financial planning and structuring of your marriage contract as you do with planning of the wedding [...]
