What couples need to be aware of when making financial decisions. Image: Shutterstock If you’re married out of community of property with the accrual system, you will have an ante-nuptial contract in place which sets out the financial consequences of your union. Including the accrual system is a way to ensure that each spouse gains […]
When was the last time you went over your life insurance policy? Reprinted from Witbank News A general annual review is advisable to see if your insurance is up to date and whether you can still afford it. However, a general rule of thumb is that you should always update your policy whenever you have […]
It is important to have a holistic view of your entire balance sheet before making a decision. Due to my divorce, my former spouse was paid an amount of R182 726.25, which is debt on my pension with the amendment to Government Employees Pension Fund (GEPF) law, which institutes the clean-break principle in respect of […]
How your choice of matrimonial property regime can impact you. Divorce Attorney Cape Town has written a lot about ante-nuptial contracts (ANCs), matrimonial property regime, pension splitting, and many other aspects of marriage and divorce law and finances. This article from Moneyweb summarises and supports all our advice. The matrimonial property regime that you choose […]
However much you are hurting, you must take some practical steps in the first 72 hours when your marriage is over We’ve written a lot about divorce with dignity, staying friends with your ex, co-parenting, etc. We are the first to advocate an amicable divorce. It saves everyone – especially children – a lot of […]
Government pension fund members will no longer accrue pension debt after a divorce settlement payout We’ve written about divorce and pension sharing recently. It can be the most contentious aspect of a divorce, particularly where one partner is a high earner and the pension fund represents a significant asset. It can be particularly emotive because, […]
Asset splitting on divorce includes pensions – or does it? There is probably no aspect of divorce more complex and contentious than the division of pension entitlement. Despite the introduction of “clean-break” legislation in 2007 by amendments to the Pension Funds Act 24 of 1956 (PFA), fair and equitable sharing of pension fund assets is […]
No couple believes on their wedding day that their newly minted union will end in divorce. The stark reality is however that just under half of marriages in South Africa do not last 10 years. And many of us have little to no understanding of how our various assets, (including your pension) will be split […]
