Protecting the people that matter most in your life is an absolute must. In honour of Women’s Month this August, we focus on the importance of having a living trust established to protect your loved ones. How will you look after your loved ones financially after you pass away? Whether you are a woman who is in a position to take charge of your own financial destiny or you want to make adequate provisions for your family so they are better protected when you die, you should consider setting up a living trust.
What is a living trust?
A living (inter vivos) trust is created during the trust founder’s lifetime. In discretionary trusts, the trustees have full discretion at all times regarding how much every beneficiary will benefit.
There are many benefits of living trusts.
- Assets or benefits in a trust carry on being paid to your beneficiaries after you pass away.
- Assets are protected.
- Trusts can protect assets from claims by your creditors.
- Estate/succession planning: Trusts cater for the creation of flexible succession arrangements. Trust assets can be accessed anytime.
- A discretionary trust is very flexible and can be administered to take note of changes over time in family, financial and legislative circumstances.
As you can see, there are many advantages of having a living trust set up. Please get in touch with me today if you would like to have a living trust established. As a highly experienced Trust Specialist, I can answer all your trust-related questions.
Wishing all the women in our lives a happy Women’s Month!
DR MERVIN MESSIAS
JD (Juris Doctor) / BA, LLB (Wits) / TEP (Trust & Estate Practitioner)
Book an appointment with my Executive Assistant, Jutleth Mkhonza. Email email@example.com or call +27 (0) 11 783 0108.