Life Insurance / Estates & Wills

FISA reacts to the outcome of the Parliamentary Standing Committee on Finance’s meeting on the proposed anti money laundering bill

In October 2022, FISA made an urgent submission to the Parliamentary Standing Committee on Finance (SCOF) regarding a parliamentary bill, the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Bill, which proposes changes, inter alia, to the Trust Property Control Act, 57 of 1988 (the Act) and is being fast-tracked due to the threatened grey-listing of South Africa.

Trusts and wills should have a seat at the middle market table

There are two myths that you must dispel when advising your middle market clients on their holistic estate and financial planning needs. The first, which is taken as gospel by an alarming number of South African households, is that people must be asset rich before bothering with a Will … because nothing could be further from the truth. And the second is that trusts, which you know and understand as a valuable estate planning mechanism, are strictly the reserve of the wealthy.

FISA makes an urgent plea to the banks to focus on bank accounts of clients who have passed away

A valid Will is imperative if you want to secure the succession of generational wealth

The great generational wealth transfer is happening now.