Constitutional Court ruling, good news for new homeowners

  Following the recent ruling by the Constitutional Court, new homeowners will no longer have to worry about being held liable for historical debt incurred by previous owners, and having their municipal services cut off as a result, or possibly even having their property attached and sold in execution. The judgment brings to an end a long period of confusion “and no little controversy” since judgment was given in 2013 in the Gauteng High Court case Mathabathe vs Municipality of Tshwane, which concerned the process of obtaining and lodging a municipal clearance certificate.…Read more …

A POWER OF ATTORNEY CAN LAPSE

It is often accepted by clients that if they sign a Power of Attorney in favour of a child or a trusted person, that that person will be able to handle their affairs in case they become incapable of managing their own affairs, irrespective of their mental state. The question that arises is whether such a Power of Attorney would remain operational in the event of the parent becoming incapable of managing his own affairs, for example in an instance where the parent is diagnosed with Dementia or Alzheimers disease. The answer is…Read more …

5 facts about the new SA number plates

5 facts about the new SA number plates being implemented this year                                                                                                                        21 June 2017 (Cape Talk radio station) No official date has been set for the roll out of South Africa's new number…Read more …

Keep in Touch

In Touch                                                                  November 2016 Dear Client   As the end of the year approaches, it is tempting to slow down and delay making any big decisions until the New Year. However some decisions need to be taken now, rather than later. One such matter is deciding how to use your annual bonus. Wisely allocated, your bonus could save you money and…Read more …

Third Party Claims : Potential Problems

Many insurers offer consumers a no-claims bonus if they make no claims against their policy for a specified period of time. Unsurprisingly, the prospect of this financial reward is attractive to consumers, so much so that many choose not to claim from their insurance to avoid losing the cash-back reward or discount on their insurance premiums in years to follow. This is particularly true in the case of third-party claims, where consumers feel someone else is responsible for an accident. However, holding out on placing a claim with your insurer is often financially…Read more …

Should you wait for the next ratings decision before investing

Patrick Cairns  |  28 July 2016 00:21 CAPE TOWN – In this advice column Mikayla Collins from NFB Private Wealth answers a question from a reader who wants to know whether his advisor should have held back on making any investment decisions until the ratings agencies make a decision on South Africa. Q: I just a made an investment of R400 000 via a financial planner who placed these funds within a unit trust portfolio. My question is twofold: Firstly, if we are downgraded to “junk” status, is there any possibility of me losing…Read more …

Type of marriage regime, needs more thought

When planning your marriage, it is all about the one day, where should we have the ceremony, how many guests, the financial impact and of course the dress. More time is spent on planning the dress and the reception than anything else. If more than 5 minutes are spent on the right marriage regime for their individual circumstances, it is the exception. Entering into a marriage can be one of the most exciting journeys in one’s life. In the run-up to the wedding, couples often neglect the importance of discussing the type of…Read more …

Can you legally tow? It’s not as simple as you think

Can you legally tow? It’s not as simple as you think School holidays across South African ended today and this has undoubtedly lead to a massive increase in traffic on the country’s roads. Many families used this break to go on holiday, taking their trailers, boats or caravans with them. But, unbeknown to many of them, is the fact that their current driving licences may not be legal to tow these trailers. In 2000 the government changed to the credit card type driving licences. All code 08 licences issued before this date were…Read more …

DIVORCED, UPDATE YOUR WILL WITHIN 3 MONTHS

An important aspect to consider when going through a divorce is whether or not your existing will correctly reflects your wishes. If your former spouse is still the beneficiary of your will signed prior to the dissolution of your marriage, and you pass away within three months of the date on which your divorce is made final by the court, then in terms of Section 2B of the Wills Act, he/she will be disqualified from inheriting your assets. However, if your death occurs after the expiry of the said three month period and…Read more …

Estates and Maintenance Obligations

An issue that is sure to cause a delay in the winding up of an estate is the issue of maintenance. Your obligation to maintain your minor children does not cease with your death. In fact, your obligation does not necessarily even cease when the child becomes a major at age 18 - it only ceases when that child becomes self-sufficient. On death, maintenance claims must be resolved before heirs can be paid. If not sufficiently catered for they can result in heirs receiving less than the deceased wanted them to. It is…Read more …