Mokabane Attorneys Inc.

26/09/2023

THE TWO POT RETIREMENT SYSTEM!

Effective from 1 March 2024, members will be required to contribute a one third of their contributions to a savings pot and a two-thirds to their retirement to a retirement pot, amounts contributed to the retirement pot cannot be accessed before retirement, whereas the amounts from the savings pot can be accessed without any conditions but only only one withdrawal can be made during any rolling 12 months period. The minimum gross withdrawal amount is R2000.00.

When a member terminates employment the savings pot can be accessed in full.

Tax implications:
Withdrawals from the savings pot will be included in the members taxable income for that year, the withdrawal tax table will accordingly not apply to withdrawals from the savings pot.

Any funds available from the savings pot at retirement or death can be withdrawn in full or transferred to the retirement pot.

At retiment, the total value in the retirement pot must be paid in the form of an annuity which will enable the member to get a monthly payment of their retirement funds and not as a LUMPSUM!

Contact our offices for more information!
www.mokabaneattorneys.co.za
Call us on 011 881 5945

Mokabane Attorneys is a black female-owned law boutique firm in Sandton. We offer legal guidance and legal disputes services, specifically on labour-related matters, family law, medical negligence, deceased estates, and personal injury cases.

09/01/2023

Compliments of the New season everyone.

We are officially back and our offices are open for all your legal needs, do call us on 011 881 5945 or email us at [email protected] to book your consultation slot.

07/09/2022

Our Director appeared before Judge Ncube at the Land Claims Court the other day.

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07/06/2022

Do you have a valid will?
Have you updated your will since the finalization of your divorce?
Have you updated your will to cover all your children or all the people you would like to include to share your wealth and or assets?

If you have answered No to any of the above questions, please call us on 011 881 5945 to book a consultation. Visit our website at http://mokabaneattorneys.co.za/

Mokabane Attorneys is a black female-owned law boutique firm in Sandton. We offer legal guidance and legal disputes services, specifically on labour-related matters, family law, medical negligence, deceased estates, and personal injury cases.

11/01/2022

Your support has always helped us grow…. We are extremely thankful for your generosity and cooperation and we wish that we have another year of satisfying association…. Sending warm greetings to you and your family on this New Year…. May it be a fruitful one.

We are officially opened for business and looking forward to serve all your legal needs.

30/08/2021

Death benefits payable in terms of the Pension Funds Act

When a member of a retirement fund dies before reaching retirement age (and if the rules of the particular fund permit), the lump sum benefit which becomes payable (hereinafter referred to as the “death benefit”) must be paid to the member’s dependants and/or nominees.This section curtails freedom of testation given by the Deceased prior his/her death as the nomination form filled by the deceased during his/ her lifetime will not be a determining factor as to how a death benefit will pay out.

Section 37C of the Pension Funds Act regulates the payment of death benefits. The primary objective of section 37C is to ensure that those persons who were dependent on the deceased member are not left destitute after his/her death, irrespective of whether or not the deceased was legally required to maintain them.

Section 37C imposes three primary duties on the Board of trustees, namely to:

Identify and trace “dependants” these can mean those nominated by the deceased in the nomination form and anyone else who can prove financial dependency towards the deceased person.(as defined in section 1 of the Act) and those persons, if any, who have been nominated by the deceased member;
Make benefit allocations on a fair and equitable basis; and determine an appropriate mode of payment of the death benefit.

Section 37C accordingly imposes a duty on the Board to conduct a proper investigation to determine all the “dependants” of the deceased member. What this means is that the trustees cannot merely follow the beneficiary nomination made by the member during his/her lifetime – the Board must establish who the persons are who fall within the ambit of “dependant” as defined in the Act. Once the Board has identified all the dependants the next stage of the enquiry would be to examine the needs of each dependant so that it can make an equitable distribution amongst them. In doing so, it has to consider all the relevant facts to the exclusion of irrelevant facts. Once the trustees have established the needs of each identified dependant they will distribute the death benefit accordingly.

Should you need a broad interpretation of the above our offices are open to assist, book your consultation by emailing [email protected]

09/08/2021

We at Mokabane Attorneys would like to wish the women of South Africa a happy women's day🥳🥳

30/06/2021

CHILD MAINTENANCE

A child is entitled to reasonable maintenance to provide for clothing, housing, dental and medical care, education as well as provision for food. Monthly cash payments are usually paid to the parent who has the primary care of the child(ren).It is a legal obligation of both the biological parents, grandparents or legal guardian of the child to pay maintenance, maintenance can also be claimed from the biological grandparent if the parents cannot pay maintenance.

At the seat of every Magistrate’s Court lies a Maintenance Court which is presided over by a Maintenance Officer. When a person who is legally liable for maintenance towards a minor child has not been meeting his or her obligations, an application can be brought for the enforcement of arrear maintenance.

Maintenance Officer can compel arrears payments and more.
A Maintenance Officer may make an order which compels the person liable to pay such maintenance in a particular form and manner to pay arrear maintenance from the date of the child’s birth, as well as more specific orders such as compelling the non-paying parent

Failure to pay a maintenance order is a criminal offence
If an order to pay maintenance is already in place, failure to make such payment is contempt of a court order, which is a criminal offence. It is possible to have a writ of ex*****on issued whereby the non-paying parent’s movable assets are attached and in terms of the Maintenance Amendment Act 9 of 2015, the non-paying parent may be reported to the credit bureau, where after he or she will be blacklisted.

Should you need assistance regarding maintenance, book for a consultation Tel:011 8815945

*Disclaimer*

The articles on this page are provided for general information purposes only. Whilst care has been taken to ensure accuracy, the content provided is not intended to stand alone as legal advice. Always consult a suitably qualified attorney on any specific legal problem or matter.

A black female owned, Boutique law firm situated in Nelson Mandela Square, Sandton.

25/05/2021

Meet the director and founder of Mokabane Attorneys 📚📓💼

18/05/2021

You need to take into account the terms of your marriage contract when you draft your will, because if on your death, they clash, the marriage contract will override the will.

If you are married in community of property, you cannot leave your assets to whom you like, because you own only half of them – the other half are owned by your spouse by virtue of your marriage in communityof property.

If you are married out of community of property but with accrual, on your death a calculation must be made as to the growth of both estates, and the partner whose estate has grown least has a claim against the other’s estate. If the claim is against the deceased spouse’s estate, this will affect the distribution of assets in terms of the will.

an example would be:

“A man dies, and in his will he bestows one quarter of his estate to his wife and the rest in equal shares to his three children from his previous marriages."

when this man was drafting his will, he forgot that he had entered into an ante-nuptial contract with accrual, which gives rise to a claim against his estate by his surviving spouse.

There are many issues that can change the way your estate is distributed – despite your clear last wishes.

The preparation of a valid, workable will requires a skilled Attorney who is fully aware of all the problems that may arise should you not take your marriage contract into account. In this way, you can ensure that your estate is shared among your intended heirs without undue problems and strife.

Our offices are available to assist you should you require such services, book your appointment 011 881 5945

A black female owned, Boutique law firm situated in Nelson Mandela Square, Sandton.

16/04/2021

Section 21(2)(a) of the Matrimonial Property Act has been declared unconstitutional and invalid as it unfairly discriminate against black women and women in general.

This means that all black people married in terms of the black administration Act are now married in community of property.

The high court found in favour of the applicants and declared that the act discriminated against black persons married before 1988, in particular, black women.

05/04/2021

LOBOLA AND LOBOLA NEGOTIATIONS UNPACKED:

Your partner asks for your hand in marriage, subsequently sends a letter to your family, a date is set, lobola is negotiated and the families agree on a figure and a portion of that amount is paid. The delegation is offered lunch and while the mood is jubilant, the families sing in celebration of the newly founded union. Although the couple may not know it, they may be presumed to be married in terms of customary law. This is why.

Section 3(1) of the Recognition of Customary Marriages Act 120 of 1998 (the Act) sets out the requirements for a valid customary marriage. These are:

‘For a customary marriage entered into after the commencement of this Act to be valid –

(a) the prospective spouses –

(i) must both be above the age of 18 years; and

(ii) must both consent to be married to each other under customary law; and

(b) the marriage must be negotiated and entered into or celebrated in accordance with customary law.’

After The couple have done the above, they are presumed to be married in community of property by law.

Couples who intend to commence lobola negotiations and intend to marry out of community of property are advised to consider approaching a legal practitioner to assist them with drafting an antenuptial contract before the commencement of the lobola Although many couples may feel as though this approach is jumping the gun as it precedes negotiations between the two families, this may ideally be the best option for couples who want to avoid being presumed to be married in community of property (this being the automatic marital regime for couples who meet the requirements of s 3 of the Act).

Our offices can assist with an Anteneptual Contract call us on 011 881 5956 to book a consultation.

A black female owned, Boutique law firm situated in Nelson Mandela Square, Sandton.