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Blog & Articles

Hammond Pole Attorneys – Serious about service
Hammond Pole Attorneys > Blog & Articles (Page 5)
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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13 June
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The Practical Application and Ethics of Artificial Intelligence in the Legal Sector

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While the law may appear to deal in absolutes – precedent, legislative frameworks, right and wrong – it is nevertheless dynamic, deeply nuanced and in some cases open to (re)interpretation. Context and circumstances can alter the direction and outcome of a case that has been pored over by lawyers and advocates looking for the best result for their client.   And while artificial intelligence (AI) might be transforming some of the work of lawyers and advocates, it is unlikely that it will ever replace them, until such times as AI can negotiate, empathise, strategise or plead a case in court.   What is Artificial...

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03 June
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Death and Taxes – A Guide For Navigating Deceased Estate Taxes

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It’s a well-known adage that the only certainties in life are death and taxes. One crucial aspect of deceased estate administration is the taxes. With the death of an individual in South Africa, the executor has a duty to ensure that all tax returns of the deceased are up to date with the South African Revenue Services (SARS).   It’s imperative to know that there are different types of taxes that come into play in respect of a deceased estate:   Income tax for the deceased Individual (personal taxes) Value added tax (if applicable to the specific estate) Capital Gain tax Estate duty...

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21 May
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Expert Advice For Selecting An Estate Executor – Family vs Professionals

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Identifying Your Executor Before nominating your closest family member or best friend to be the executor of your estate, it is important to consult with professionals to evaluate your situation given the complexity and number of considerations when selecting an executor. You want to ensure you are making things easy and uncomplicated for your beneficiaries while also ensuring that your family legacy remains intact. While many people choose a close friend or family member, it is an onerous task for any individual to undertake, particularly when they are grieving a loss. Before you decide, you should consider the benefits of selecting...

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06 May
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Using Workers’ Month to Know More About Your Rights: New Earning Thresholds

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May is Workers' Month and an opportunity for both employers and employees to ensure they are up to date with all relevant labour legislation as well as with contractual rights and responsibilities in their particular workplace.   From 1 April, 2024, the basic earnings threshold as stipulated in the Basic Conditions of Employment Act (BCEA) was increased from R241 110.59 per annum to R254 371.67 (or from R20 092.55 to R21 197.63 per month, representing a 5.5 per cent increase from 2023’s thresholds). Basic earnings are calculated before any deductions such as PAYE, medical aid and pension contributions etc but exclude travel allowances, bonuses and...

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16 April
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Collective Property Buying – Smart Strategies For Shared Ownership

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Investing in property is considered one of the savviest financial moves you can make, offering stability and potential long-term growth. However, for individuals unable to afford property alone, purchasing with a partner, friend, family member or in a group can provide a viable pathway into the property market or kick-start an investment journey.   While this collaborative approach has its advantages, it also comes with its own set of challenges and considerations that must be carefully considered upfront to protect all parties involved.   Understanding the dynamics Entering into a property purchase agreement with another party requires a thorough understanding of the implications involved...

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20 March
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The Consumer’s Guide to Debt Prescription

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Ever received a demand for an old debt you’d forgotten about completely? You're not alone. In South Africa, the law provides relief through a concept called prescription of debt. At Hammond Pole Attorneys, we believe in empowering consumers with knowledge about their rights and responsibilities regarding prescribed debt.   What is the prescription of debt all about? Prescription refers to a legal concept in South Africa where a creditor's right to claim unpaid debt expires after a specific period. This means that after enough time has passed, you are no longer legally obliged to settle the debt.   How long does prescribed debt stay on...

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