Chadwick Damons - Financial Adviser

03/09/2025

02/09/2025

📜 *Wills Month has arrived* 🙌
Have you secured your legacy?

A Will is more than just a document — it’s your voice when you’re no longer here.

Without proper estate planning, your loved ones may face delays, legal battles, and unnecessary costs.

✅ Ensure your assets are protected
✅ Avoid family disputes
✅ Appoint guardians for your children
✅ Minimise taxes and administration delays

It only takes an hour to put the right plan in place, but the impact lasts a lifetime.

Let’s get started — your peace of mind is worth it.

📲 Reply here to book your Will consultation today.

15/08/2025

⚖️ *The Story*
When Mrs. De Greeff passed away, her will named her sister as the guardian of her minor child.

The child’s father, who was divorced from the deceased, was still alive.

The father objected, arguing that he should be the natural guardian, and that the testamentary appointment in the will should not strip him of that right.

The case landed in court to determine whether a testamentary guardian (appointed in a will) can take priority over a surviving natural parent.

🧠 *Legal Question*
Does a clause in a will appointing a guardian replace the surviving parent, or does the surviving parent’s right take precedence unless the court finds them unfit?

⚖️ *What the Court Considered*
The judge examined:
*South African common law:* A surviving parent automatically retains full guardianship unless declared unfit.

*The deceased’s intention:*
Was the appointment of the sister meant to exclude the father, and was there reason for that exclusion?

*Child’s best interests:*
The court’s ultimate test in any guardianship matter.

The father was not proven to be unfit, abusive, or incapable of caring for the child.

The mother’s wishes in her will were respected in principle, but could not override statutory rights of a surviving parent.

✅ *The Outcome*
The court ruled *in favour of the father.*
The appointment of the sister in the will was valid but only as a standby if the father became unable or unfit to act.

The sister had no automatic right to guardianship while the father was alive and capable.

📌 *Takeaway*
Many clients believe that simply naming a guardian in their will will guarantee that person gets custody of their children.

This case shows that’s not true when there’s a surviving parent.

✅ *Key points:*
- A will cannot automatically override the rights of a surviving natural parent.
- If there are concerns about the surviving parent, clients should document those concerns and consider other legal protections.
- Always nominate an alternate guardian in case the primary guardian cannot serve.

02/07/2025

27/06/2025

🏰 *An Epic Will: 1,066 Pages of Legacy*
In 1919, Frederica Evelyn Stilwell Cook, an Englishwoman of considerable wealth and eccentricity, set a record that still stands to this day:
She wrote a will that was a jaw-dropping 1,066 pages long, bound in four leather-bound volumes.

*What made it so long?*
Her will detailed:
- A vast collection of properties
- Personal belongings down to individual teaspoons
- Long, poetic descriptions of each heir
- Notes on how not to misuse her estate (she had opinions!)
- Charitable donations—with emotional dedications

The will was stored at Somerset House in London and weighed nearly 20 kilograms!

20/06/2025

📜 *Memento Mori:* A Final Reminder from the Past
In the candlelit halls of 19th-century England, it wasn’t uncommon to find the phrase *“memento mori”* nestled within the closing lines of a person’s will.

🕯️ It wasn’t meant to frighten.
It was meant to remind—that life is brief, and death inevitable.

A quiet whisper from one soul to another:
*Live with meaning.*
*Love intentionally.*
*Leave with purpose.*

Victorians were big on rituals around death, but they were also great record-keepers.

Their wills often reflected not just assets, but values, gratitude, and even blessings passed down.

18/06/2025

09/06/2025

Good morning and happy Monday! 🙂

A new week, a fresh start—and a few interesting stories to kick things off.

I’ve pulled together some of the latest headlines that might be useful or just good to know as we step into the week ahead.

Wishing you a productive and insightful week ahead! 💪🏼

📈 *JSE Hits Record as It Approaches 100 000-Point Milestone*
*Key Takeaway:*
The Johannesburg Stock Exchange recently broke yet another record and is closing in on the symbolic 100 000-point mark.

*Discussion:*
This milestone reflects growing optimism around domestic economic signals, such as the expectation of interest-rate cuts and broader policy stability.

It’s a positive indicator of investor confidence and may attract increased capital inflows into South African markets.

🇿🇦 *SA Budget Reboot: Credibility Still in the Balance*
*Key Takeaway:*
The South African government has rolled out its third version of the national budget, focused heavily on spending cuts aimed at shoring up fiscal credibility.

*Discussion:*
Economists caution that the repeated revisions could erode faith in the budgeting process.

The reliance on expenditure reductions—rather than tax increases—reflects a tightrope walk between managing public finances and avoiding additional burdens on taxpayers.

🐔 *Will Avian Flu Benefit Our Chicken Producers?*
*Key Takeaway:*
Brazil’s latest avian flu outbreak has disrupted exports, creating potential opportunities for SA poultry producers like Astral Foods and Rainbow Chicken.

*Discussion:*
Import restrictions on Brazilian poultry may tighten local supply in certain segments—especially mechanically deboned meat—leading to price increases.

While some domestic producers can scale up, others may struggle to match demand in these niche categories.

🛍️ *TFG Records R6.2 bn Profit Driven by Online Growth*
*Key Takeaway:*
The Foschini Group (TFG) posted a record R6.2 billion profit, significantly fueled by a 43% surge in online sales across Africa.

*Discussion:*
TFG’s impressive results illustrate the ongoing strength of omnichannel retail strategies. Online expansion continues to shape consumer behaviour and drive growth, confirming TFG’s leadership in the region’s retail sector.

🔒 *PrimeXBT Receives FSCA Crypto Licence in South Africa*
*Key Takeaway:*
PrimeXBT, a major international multi-asset broker, has now secured official registration with South Africa's Financial Sector Conduct Authority (FSCA) to offer crypto asset services.

*Discussion:*
This marks a pivotal moment in South Africa’s financial landscape—the first overseas crypto broker to gain local regulatory approval.

It opens up safer, more accessible options for South African crypto investors.

The move could encourage more global digital asset players to enter the market under regulatory oversight, increasing both competition and consumer protection.

07/06/2025

🚀 *The Moonshot Inheritance: A New York Entrepreneur’s Out-of-This-World Will*
In one of the most legendary and eccentric estate stories of our time, a New York entrepreneur—whose name remains shrouded in mystery due to sealed probate records—allegedly made headlines with a clause in his will that promised his fortune to *"the first human to travel to the moon and return safely to Earth."*

🌕 *The Fine Print*
The will, drafted in the mid-20th century during the height of the space race, reportedly reflected the testator’s lifelong obsession with space travel.

*But there was a catch:*

- The moon mission had to be independent—not funded by a government.
- The journey had to be documented and verifiable.
- ⁠The return had to be safe and solo.

No one—not even the astronauts of Apollo—qualified.

The clause was so fantastical, it raised legal eyebrows.

Eventually, the court deemed the condition “unrealistic and unverifiable by current standards,” and the estate was distributed among more conventional heirs.