Tag Archives: estate plan

Effects Corona Virus will have on business operations and personal affairs

B1COVID-19 may, undoubtedly, have the largest impact on the global economy which we have ever witnessed. It has most certainly had an unprecedented impact on local business and the personal affairs of all South Africans. This is, however, not the time to shy away from the challenges which lie ahead. Businesses and individuals need to be proactive about their current positions and consider the effects that the Corona Virus will have on their current and future business operations and personal affairs.

Undoubtedly, you may feel overwhelmed and face uncertainty on the way forward for your business and personal interests. Here is how we can assist:

ESTATE PLANNING

A comprehensive estate plan is crucial for giving effect to your will. The reality of the matter is that without an estate plan in place, it may not be possible to have your wishes carried out – regardless of your intentions. By ensuring you have an estate plan, you can mitigate any unforeseen consequences which might crop up in the future.

If you have any doubts about what the future might hold for your loved ones or simply feel that it is time to revise the state of your personal affairs, don’t hesitate to contact our offices. How can we help?

  • Let us examine and revise your current will or assist you in drawing up one for the first time;
  • Let us advise you on the options available to address issues such as the maintenance of your surviving spouse, the maintenance and educational needs of your children, the liquidity of your estate and estate duty implications;
  • Let us examine and revise your current estate plan or assist you in formulating a plan to suit your specific needs;
  • Let us advise and assist in the implementation of your estate plan through various instruments such as the establishment of trusts.

LABOUR RELATIONS

Under the current lockdown regulations, many sectors of the economy are under strain as certain business remain closed or operate at a limited capacity. A topic which is dreaded by all business owners alike is that of the retrenchment of employees. Unpleasant as it may be, some businesses are left with little to no other options and are forced to implement such measures to ensure the future sustainability of their business operations.

These measures must, however, be carried out fairly and in compliance with the procedures which are set out in the Labour Relations Act, No. 66 of 1995. An employer’s failure to carry out a retrenchment

process lawfully, could result in legal claims from aggrieved employees which may put even greater financial strain on the business.

If you are contemplating the dismissal of employees for operational reasons or if you are an employee who has been unfairly affected by a retrenchment process, our offices can assist you on the way forward. How can we help?

  • Let us advise you on the legal requirements for a fair retrenchment process and assist you in the implementation thereof with the necessary notices, employee consultations and severance packages;
  • Let us advise you on the fairness of your dismissal and assist in referring your claim to the appropriate Bargaining Council or the Commission for Conciliation Mediation and Arbitration, as the case may be;
  • Let us advise and assist you in all other labour related matters, including matters arising from the Basic Conditions of Employment, No. 75 of 1997, such as the regulation of work time, overtime pay and leave.

CONTRACTUAL OBLIGATIONS

You may find yourself in a situation where either you or your contractual counterpart are unable to perform certain obligations as a result of the global pandemic and the ensuing lockdown regulations. You may also have heard murmurs of people using the phrase “force majeure” in an attempt to escape their contractual obligations.

A force majeure is an event which is commonly referred to as an Act of God. It is an unforeseen event which is out of the control of the contracting parties and which makes it objectively impossible for either of the parties to perform their obligations under the agreement. Whether or not such clause can be invoked will depend on the wording of the contract and will have to be applied on a case to case basis.

If you are unsure on whether or not you can escape the obligations of your agreement or if you are dealing with a defaulting party who refuses to adhere to contractual provisions, let our offices advise you accordingly. How can we help?

  • Let us advise you on the stipulations of your agreement and assist you in the enforcement thereof;
  • Let us revise and update your existing agreements in accordance with the most recent legislation and modern practices;
  • Let us meticulously draft agreements for your specific business or personal needs.

This article is a general information sheet and should not be used or relied on as legal or other professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your legal adviser for specific and detailed advice. Errors and omissions excepted (E&OE)