Divorce is a reality within our society, however, parties tend to believe that their administrative woes have come to an end once the order of divorce is granted by the court. This is not the case. Parties need to consider that there are further administrative and legal aspects that must be taken care of, and these are not mere automatic consequences of their divorce. This article shall outline some of the considerations and attendances which must be accounted for once your order of divorce has been granted by the court.
Once a divorce order is granted it is common for parties to be concerned about the payment of their pension funds. This is an important consideration, and the divorce order must be provided to the pension fund once it is made available by the court. However, there are more pressing issues that parties tend to overlook, that being policies such as life policies and further to that your testament. Where a policy nominates your spouse or your spouse is specifically named as a beneficiary to a policy that may pay out after a certain period or upon your death, you must make the necessary arrangements to replace the beneficiary. Further, where your testament provides for certain benefits or responsibilities to become due to your spouse upon your death, South African law allows for a three-month relief period to be granted to you in which you may rectify this. Should you fail to attend to this within the three months after your date of divorce the terms of your will shall remain enforceable.
Another consideration is where there is a trust in existence and your spouse is a trustee or beneficiary. Should your divorce order hold that your spouse will resign from such a role or should you come to such a decision before your divorce, it would be essential to ensure that such resignation is obtained and the necessary amendments to the trust deed are attended to.
These are just a few considerations that must be taken into account when contemplating a divorce. Although these are issues that must be dealt with upon divorce, it would be advisable to attend to them once you and your spouse have decided to begin divorce proceedings. Planning for the worst-case scenario such as death, although unpleasant is an essential matter to be dealt with by everyone, and where you have dependants such as minor children it is the wise thing to do.
Should you require any guidance or assistance in any legal-related matter, contact us and we will gladly assist.