Legal Blog - Louwrens Koen Attorneys #assets

•  25-03-2023 05:36 PM

To prove a claim against an insolvent estate, the claim must be a liquidated claim that arose before the date of sequestration and existed at that date, and did not prescribe at that date. A liquidated claim is a claim for a certain amount that has been determined through an agreement, a court judgment, or other means. Non-liquidated claims may be tendered at a meeting of creditors and deemed proved against the estate if the trustee has compromised or admitted them, or if they have been settled by a court judgment.

•  25-03-2023 05:04 PM

Trusts generally have a wide application and can be customised to meet specific needs. Reasons to establish a trust include: Providing for minor beneficiaries financially and otherwise Honoring maintenance commitments in divorce orders and settlements Providing for disabled dependents or aged parents Protecting and preserving assets for the next generation Serving as a holding vehicle for assets as part of estate planning structuring Providing a regular income for favorite charities (public benefit organizations) Providing for the dependents of a deceased employee

•  25-03-2023 04:43 PM

An inter vivos trust is a type of trust that is established by a person during their lifetime to manage specific assets or investments and provide support to beneficiaries, typically family members. The primary purpose of this type of trust is usually to generate income for the beneficiaries and to provide funding for various needs such as housing, care, education, and general welfare.

•  18-03-2023 05:21 AM

If you get married in community of property, your credit rating will be affected. In this type of marriage, both spouses are jointly and severally liable for any debt incurred by either party, regardless of whether it was incurred before or after the marriage.

•  18-03-2023 05:00 AM

Frequently asked questions relating to matrimonial property regimes and the registration of an antenuptial contract. Article by Louwrens Koen

•  18-03-2023 04:45 AM

If you don’t draw up an antenuptial agreement in South Africa then your marriage automatically defaults to ‘in community of property’, and the state assumes that all assets and liabilities will be shared – ‘everything which is mine is yours, and everything which is yours is mine’.