Let us assist you in a free consultation and prepare a proposal for estate planning which will ultimately save precious money that can be better utilised by your family and children.
The advantages of utilising a trust and estate planning are the following:
- A trust is a legal entity and does not stop existing when you pass away, a trust is not liable for estate duty and certain taxes and there is no executors fee on the property in a trust.
- No estate duty
- The growth of the assets of the trust is not subject to estate duty because the assets belong to the trust and not to you in person. The trust will continue to pay benefits to the beneficiaries, for instance your wife and children, after you die, whereas the estate and your bank account will be effectively frozen while the estate is administered and wound up.
Protection of assets – If a beneficiary becomes insolvent the assets still belong to the trust and are protected against all creditors