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Hammond Pole Blog

Hammond Pole Attorneys > Hammond Pole Blog (Page 3)
25 November
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Life Rights vs. Homeownership – Choosing The Right Retirement Option

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Retirement is a significant life stage that many South Africans approach with a sense of anticipation and careful planning. For those seeking a secure and community-oriented lifestyle without the burdens of traditional homeownership, life rights in a retirement village is an appealing solution. This popular option offers a blend of security, affordability, and the chance to enjoy one’s golden years in a supportive environment, making it a compelling choice for many.   Life rights differ from conventional property ownership in several ways, where traditional homeownership involves acquiring full title to a property, life rights give individuals the right to live in a...

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13 November
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The Legal And Emotional Journey Of Contesting A Will

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When a loved one passes, the distribution of their estate should ideally reflect their final wishes, providing comfort to those left behind. Unfortunately, when questions arise regarding the validity of a will, a legal contest may be necessary to ensure that the deceased's true intentions are honoured. Contesting a will is a serious legal endeavour that demands clear grounds, substantial evidence, and often court involvement.   Establishing the burden of proof A will is presumed valid unless proven otherwise, and the burden rests on the party contesting the will to establish invalidity, as supported in Kunz v Swart and Others 1924 AD 618....

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23 October
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My House Is Being Foreclosed On – What Can I Do?

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House foreclosure can leave you confused and at odds about what decisions to make to avoid unnecessary losses, but there are ways you can find relief. Below we outline what it is and what you can do to manage it more effectively.   What is foreclosure? Foreclosure occurs when a lender, usually a bank or other lending institution, repossesses a home due to missed bond payments after several attempts to initiate repayments with the borrower.   Foreclosure usually begins after a borrower has missed three payments. These missed payments can result from various personal challenges, including job loss, reduced income, divorce, illness, or significant debt....

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09 October
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Mind Matters – Paying Attention to Mental Health in the Workplace

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South Africa's workplaces face a silent epidemic: a growing number of employees struggling with mental health issues. Recent studies reveal a staggering prevalence of depression, anxiety, and other mental health disorders, with one in three South Africans likely to experience such challenges in their lifetime. This crisis is exacerbated by the stigma surrounding mental health, limited access to care, and the ongoing impact of socio-economic factors. As we approach World Mental Health Day on October 10th, it is essential to shed light on this pressing issue and advocate for greater awareness, understanding, and support in the workplace for individuals dealing with...

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25 September
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The Homeowner’s Guide to Heritage Homes

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Living in a home steeped in history holds a unique charm. But before you get swept away by the nostalgia and palpable sense of connection to the past, it’s important to understand the flip side of owning a heritage property - the legalities and implications. Whether you’re dreaming about buying one, or you’ve just come into an unexpected inheritance, there are a number of forces that will govern how you can manage, renovate, or even sell the property.   What is a heritage property? A heritage property is a structure or site considered significant due to its cultural value. This value can be...

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05 September
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Power of Attorney 101 – Taking Control When You Can’t Be There

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Life can be unpredictable. Illness, travel, or simply the demands of a busy schedule can make managing your financial and legal affairs challenging. A Power of Attorney (POA) offers a solution, allowing you to appoint a trusted individual, called an agent, to act on your behalf.   Why would you need to grant Power of Attorney? A Power of Attorney (POA) provides a safety net for various life circumstances. It allows you to appoint a trusted individual to handle your financial and legal affairs when you're unable to do so yourself.   For instance, if illness or incapacity strikes, a POA ensures your affairs are...

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27 August
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The Homeowner’s Guide To Understanding Bond Switching

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Thinking about refinancing your home loan? You might be surprised to learn you have options beyond sticking with your current bank. Bond switching, also known as home loan refinancing, allows you to move your existing home loan from one bank to another. This can be a powerful tool for South African homeowners looking to save money and potentially improve their financial standing in the long run. What is bond switching? Bond switching involves transferring your existing home loan to a new lender. This can be done to secure a lower interest rate, access better customer service or additional benefits, consolidate debt, or...

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12 August
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Securing Your Business Legacy: Why Every Business Needs A Succession Plan

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What happens to the future of a business if the CEO either passes away, resigns, or retires? If systems aren’t in place to create a safety net for events like these, this can be a threat to employees and their livelihoods, including the stability of the business.   Succession planning can create a safety net, so to speak because it ensures continuity when faced with changes that may impact a business’s longevity, specifically if there is a change in a leadership position. Below you will learn more about succession planning and why it’s a risk to not have one in your business.   What...

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24 July
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A Guide To Debt Substitution In Property Ownership: A South African Homeowner’s Safety Net

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Life throws curveballs, and sometimes those curveballs land right on your doorstep, impacting your homeownership journey. Whether it's a change in marital status, a loss in the family, or a financial shift, navigating these situations can be stressful. But what if there was a way to keep your roof over your head without the hassle of selling your property entirely? Debt substitution can be a valuable tool in such scenarios, saving you time, money, and emotional strain.   Understanding debt substitution in the South African context Debt substitution refers to the process of replacing the original debtor on a property loan with a...

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08 July
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Business Afterlife: Managing Deceased Estates By Business Type

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As a business owner, what do you want to leave behind in the event of your death? Will your company be in good hands, and what can you do to ensure that? The administration of deceased estates impacts various business structures and understanding these processes can help you take the necessary steps to secure your company's future. Deceased Estates and How They Apply to Companies Deceased Estates refer to all a person's belongings that are left after they pass away. These can include anything from their properties, assets, liabilities, and debts. These also apply to businesses or companies, otherwise referred to as...

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