Emotional impulses can lead to costly financial choices, jeopardising future financial security.
Divorce can be a profoundly stressful life event that invariably results in heightened emotions, even in seemingly amicable situations. However, emotional impulses can lead to costly financial choices, jeopardising future financial security.
Bear in mind that if you are married in community of property, the non-member spouse will be entitled to claim 50% of the member’s pension interest as at the date of divorce. On the other hand, if you are married with the accrual system, your spouse’s pension fund value will be taken into account to determine the value of their estate as part of the accrual calculation.
As an important aside, when amending your will, be sure to include a clause that specifically revokes all previous wills and ensure that your new will is clearly dated to avoid confusion. If you have a separate will for your foreign assets, be sure to update this as well.To ensure the correct distribution of your assets in the event of your death, it is not enough to simply update your will.
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