These have been dark days. During the pandemic that shall not be named (but starts with a C and ends in 19) it has been difficult to escape the uncomfortable introspection related to your mortality on this earthly plane. More people are becoming aware of the necessity of dealing with your last wishes before, well, that fateful final day.
Category: Legal
Love and marriage go together like a horse and carriage…
According to a recent BBC Worklife article, divorce rates are rapidly increasing around the world – whether you live in China, Sweden, or the United Kingdom. This is true of South Africa as well. Since the already slow cogs of justice ground to a halt for months due to the hard lockdown level 5, South African courts face a backlog in the divorce courts, the likes of which has not been seen before.
Be wise, and if you aren’t sure you can be, ask Peter
I want to tell you about a goat.
Many years ago there was a policeman whose prized possession was Billy – a goat. The policeman was the only one allocated to the township of Tarkastad. He was very proud of his goat. One day Billy disappeared…
Talking about Death and Dying – this is not the movies
There are as many movies about funerals and the aftermath thereof as there are genres of movies! There is a favourite cinematography device that can be applied, again, to most genres. The church and graveyard scenes fade. The next day the family arrives (separately) at very official-looking offices. Nobody makes eye contact. There are a lot of awkward silences. The executor of the estate walks in. The camera pans slowly over the faces of the prospective heirs. This is the moment of truth: the Reading Of The Will …
Looking at the end from the beginning – planning for when you are no longer around
Nobody wants to talk about death and dying, especially when no-one is dead or dying. It may sound flippant when it is put this way, but it is the truth. If COVID-19 has done one thing, it has made us face our human frailty, our mortality.
Still not Treating Customers Fairly
In 2011, the Financial Services Board (FSB) announced they would be launching Treating Customers Fairly (TCF) in South Africa. Last year, Northwood released a blog that noted a few instances of non-compliance from financial planners. TCF is a relatively new Financial Services requirement, and is meant to ensure that those who practice in the Financial Services Industry provide their clients with suitable products and services.
Changing with the times
Northwood Financial Services CC first opened its doors in 1990, with a complement of only two staff members. Everything was simpler back then, and processes were relatively easy to manage.
The Benefits of Paying UIF
As standard tax payers, we, as South African citizens contribute to UIF (the Unemployment Insurance Fund) every month.
If I were to ask why do we pay UIF, most people would respond by saying that they would be able to get financial support in the event that they were to lose their job. In a nutshell, this is true, but what most people don’t realise is that paying towards UIF means so much more…
The importance of planning and regularly reviewing your Last Will and Testament
Discussing matters of your death with your loved ones is never an easy conversation to have, nor is there ever an ideal manner in which to approach the topic. However, doing so can save your family, assets and estates in the long run. The following article discusses the critical importance of constructing, and regularly reviewing, your Last Will and Testament.
A client of mine, Walter, married his wife in 2000. As good citizens, he and his wife made each others sole beneficiaries to each others possessions, and assigned their parents as the inheritors thereof in the event of their death.
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Reckless Lending Continues Despite Laws Banning the Practice
The term ‘Reckless Lending’ refers to a loan issued to a consumer without the credit provider assessing whether the individual is able to repay the loan.
South African law states that a credit provider should conduct a detailed financial assessment of their potential consumer/s prior to entering into a credit agreement. If the preceding dealings between the consumer and credit provider are not handled in accordance to the laws set out by the National Credit Act 34 of 2005, the client could fall victim of Reckless Lending.
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