Discretionary Living Trusts A legacy for generations

Written by Trust Specialist, Mervin Messias, it is the culmination of knowledge and expertise that has been acquired over many years’ study and practice of Trust law.

The author recommends the use of Trusts as part of estate planning because they provide solutions to many potentially complicated problems related to asset protection, succession planning, and disability protection. Many little-known benefits of Trusts are revealed to help protect your hard-earned wealth for generations to come. A Trust circumvents the whole process of winding up an estate, together with its potential delays, hassles and frustration.

In fact, a Trust deserves pride of place in any estate plan. It means business as usual, even after death, with no executor, executor’s fees or estate duty.

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    Characteristics Of An Exe...


    Characteristics Of An Executor

    Characteristics Of An Executor

    Here is some useful information.

    An executor of an estate is the person who is in charge of administering a deceased person’s estate.  He ensures that all assets in the will are accounted for. He is responsible for ensuring that all the deceased’s debts are paid off. He also makes sure that the individuals who are named in the will as inheritors do receive their inheritances.

    These are the characteristics that your executor should have:

    • He needs to have an understanding of his duties, and he must be committed to taking his duties seriously.
    • He should be honest and trustworthy. He is the person who is entrusted with doing what is best for you as well as your beneficiaries. He must be loyal.
    • He needs to be able to understand complex concepts. He has to have an understanding of legal rules and processes.
    • He has to follow the terms of your will, even though he may have his own preferences or interests.
    • He also has to be organized. This is essential.
    • He is responsible for balancing the interests of all of your beneficiaries. Therefore, he has to be fair and make practical decisions about the handling of your estate.

    Now that you know more about the vital characteristics that this person should have, it is necessary for you to make sure that you consider the best person for the task at hand. You may decide to choose a friend to serve in this role. If you are not comfortable with doing that, then you can always ask a professional to serve in this role.

    Think very carefully about which person is going to be in charge of administering your estate when you are no longer alive. The person that you choose has to be responsible. It is no use choosing someone who is going to be irresponsible. Pick the right person to serve in this role.

    JD (Juris Doctor) / BA, LLB (Wits) / TEP (Trust & Estate Practitioner) / MTP (Master Tax Practitioner – S.A)