Tag: estate planning

ESTATE PLANNING & DIVORCE

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Divorce is the legal dissolution of a marriage by the High Court, which has permanent effects on the divorcing parties as well as other family members. Most affected by divorce are the children – who are dealt with as “ancillary issues” during the divorce proceedings. Children are included in the divorce by being catered for through discussions around custody and access rights of the divorcing parents, as a requirement of the Court. Custody reefers to the day-to-day control of the child which is usually enjoyed by the parent that lives with the child, while the non-custodian parent is awarded access rights to the minors. After the Court has issued its order, the parents continue with their lives and oftentimes start new marriages and have other children, creating blended families.

Once life has settled down, divorced parents do not think to the future of HOW their children could potentially be affected by their death/s. No frameworks and plans are in place to cater for the wellbeing of your children after your death, post-divorce. Have you identified people to step in to the gap once this happens? What role, if any, will your new partners in your children’s lives – will they be their custodians and legal guardians? Do you have answers to these questions yet? Have you thought about these before? What are you going to do?

What are your thoughts regarding your children after you die? You need to #MakeAPlan today.

This is for general information purposes only – Consult a Lawyer 

Inheritance & Children

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A time invariably comes when the conversation about inheritance needs to be had. While some conversations and situations may be hard and uncomfortable, they are necessary and life-changing. Inheritance issues may cause long-term suffering or family rifts if not handled well, or may be smooth sailing if organised in an orderly fashion.

The conversation is better had if you are the one steering it and directing the flow. Whilst you still have the time and the opportunity, consider taking time to sit with your partner and family to discuss how you want inheritance to be handled. Talk about the children – who will get what and how? Will you cater for your spouse’s children too in a blended family setup? Do you have any extra-marital children to prepare for? Are you aware that any legally adopted children are entitled to inheriting from you? Have you secured your children’s futures by electing a responsible guardian or custodian who will not plunder their inheritance? Did you know that even your adult children should be included and will also inherit as a child? All your children will be treated EQUALLY regardless of age, gender, and legitimacy.

Determine the outcome of the matter by staying in control of your wealth, its distribution, as well as the welfare of your children Do it whilst you still can. Think ahead to a time you may not see and #MakeAPlan.

This information is for general purposes only – seek advice from a Lawyer

ESTATE PLANNING AND CUSTODY

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Custody refers to the legal right a person of majority status (usually a parent) has over a child, including the right to have physical control of the child; right to regulate their daily life, right to determine questions relating to their education, social and religious upbringing. The custody of a child becomes a cause for concern and discussion in the instances where the parents separate or file for divorce, or in the unfortunate occurrence of either or both parents’ death. In the event of separation or divorce, parents can always sit down and agree which of them will be the custodian parent of the child/ren, or they could exercise joint-custody. At divorce, this is awarded by the High Court through an order.

In the case of death, families usually sit down and discuss the fate of the child/ren left behind – issues custody come up, and it is decided which relative will “take” the child/ren in and provide for them. These decisions are usually guided by principles of practicality and having to make sure life goes on, and may not always be what is best or what the parents would have desired for the minors.

It is important to think ahead of time and plan according for WHO will have custody of your child/ren when you pass away, WHERE will they stay, WHAT will happen to the assets and wealth you had amassed, and HOW will they have access to it. You are assured to have peace of mind knowing that there is an all-encompassing plan about the custody of your child/ren, should you die whist they are still young. The court can also award custody of the minor child to someone other than the parent of the child if it is in the best interest of the minor child/ren.

The #covid19 pandemic and our experience in this practice prove that planning is important because you will never know when it will be needed the most! Do not leave your children out in the cold and their fate and future in the hands of people who may not have their best interests at heart. #MakeAPlan!

This article is for information purposes only – seek the advice of your Lawyer.