SET-UP OF TRUST
An “Inter Vivos” Trust is established during your lifetime. The process to register a trust is fairly easy, but it is of utmost importance to consult an experienced trust attorney to draft the trust deed... READ MORE

ESTATE PLANNING
One of the primary advantages of a living trust is that it offers you tax efficient management and control of your assets after you die... READ MORE

RISK PLANNING
Protection of assets against creditors. Your personal liability is limited to the assets in your name... READ MORE

TAX PLANNING
The advantages of proper tax planning in a well-structured trust are clearly defined in the tax legislation... READ MORE

LEAVING A LEGACY
A Trust is an entity that will “outwit, outplay & outlast’” you, and will not terminate... READ MORE


NEWS ARTICLE - 5 February 2011


Marriages in Community of Property:

Written consent of both spouses is required by law in the following circumstances:

  • Selling your house or taking a bond over it (mortgaging) or granting a servitude over land
  • Entering into a contract to alienate, mortgage or grant a servitude (such as a right of way) over land
  • Alienating or pledging investments such as shares, stock, insurance policies, mortgage bonds, fixed deposits or similar assets
  • Alienating or pledging jewellery, coins, stamps, paintings or other assets mainly held as investments
  • Withdrawing money in the name of the other spouse at any financial institution
  • As buyer or lessee, entering into a credit agreement or leasing transaction to which the National Credit  Act, applies
  • As purchaser , entering into a contract to which the Alienation of Land Act, 1981 applies
  • Binding him or herself as surety

Consent, not necessarily in writing, is required in the following instances:

  • Disposing of or pledging household furniture or other effects
  • Receiving money due as remuneration, earnings, bonus, allowance, royalty, pension, damages for loss of income, inheritance, donation, bursary or prize, income from the separate property of the other, dividends or interest on all the proceeds of shares or investments in the other’s name, the proceeds of any insurance policy or annuity in favour of the other spouse
  • Donating an asset of the joint estate or disposing of it without value

If a spouse withholds consent or for any other reason consent cannot be obtained, the other spouse may apply to the relevant High Court for an order dispensing with consent.

 



 

 

 

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