September Newsletter
Sibling Showdown: How One Missing Word in a Will Divided a Family
Your will could be the most important document you ever sign. A recent court fight over a poorly-drafted joint will is a stark reminder to make sure that every word in it is correct.
In a worst-case scenario, bad drafting will not only subject your loved ones to bitterly-contested litigation but can also put your last wishes at risk of not being honoured at all. All perhaps for the want of just one word.
We’ll explain what went wrong in the case in question and show you how to avoid the destructive family fallouts that characterise so many inheritance disputes.
Read the full September newsletter here.
When Can You Legally Record Conversations?
Recording conversations can be a powerful tool in both our business and personal lives, but it’s essential to understand the legal boundaries. When can you record phone calls, Zoom meetings, or even casual in-person chats? And when is it illegal to do so?
We break down the key points, from the rules around recording your own conversations to the limitations on recording others without consent, with a separate note on considerations in the workplace. Make sure you’re informed and stay within the law!
Read moreWaiving the Bond Clause to Keep a Sale Alive: Risk Versus Reward
What happens if a buyer can’t get a mortgage bond as specified in the sale agreement but still wants to continue with the sale on a cash basis? In an ideal world, the buyer waives the bond clause, the sale survives, and both parties reap the rewards.
But there are also risks involved if the process isn’t handled correctly. As seen in a recent case where a buyer wanted his R1m deposit back after a sale collapsed. The seller said the buyer had waived his rights, while the buyer argued that the sale was as dead as a Monty Python parrot after the bond clause deadline had expired.
Let’s see what happened in court …
Read moreDivorce and the New Three-Pot System: Another Risk To Manage
It’s important for everyone to understand how the new “three-pot” (or “two-pot” as it’s often called) retirement system will affect our retirement plans and savings. And for those unlucky enough to be facing the spectre of divorce, a natural question will be “how will this new system affect my financial settlement?”
We’ll address that question with reference to each of the various marital regimes, before ending off with a warning about managing a new risk – covert depletion of the “savings pot”.
Read more
Legal Speak Made Easy
“Bona fide”
An important and commonly encountered legal concept, the Latin phrase “bona fide” translates to “in good faith”, implying an absence of fraud or deceit. Its opposite is “mala fide” or “in bad faith”. A fundamental concept in law since ancient Roman times, it’s still used in legal systems around the world two millennia later!
In South Africa it remains ubiquitous in our court decisions and legislation. Whether or not something is found to be “bona fide” can often make or break the outcome of litigation.
The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.
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