THIS IS A BOOK THAT ANYONE WITH ASSETS SHOULD READ

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.

Read all about it!



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    Discretionary Living Trust Tag

    [vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column width="2/3"][vc_column_text] What happens when there are trust disputes? The human factor is responsible for most trust disputes because trusts involve different people with conflicting interests. Differences of opinion or need are sure to surface at some stage: Among the...

    [vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column width="2/3"][vc_column_text]Trusts are usually introduced as part of a person’s estate plan. When the intention behind the creation of a trust is to exploit the trust form for personal gain or to evade liability, the trust will fall foul...

    [vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column width="2/3"][vc_column_text]The Trust Property Control Act came into force on 31 March 1989, and was amended by the Justice Laws Rationalisation Act, No. 18 of 1996. It serves as an operational framework shaped by case law, and is monitored...

    [vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column width="2/3"][vc_column_text]Understanding the parties to a trust is important as there may be some overlapping of roles. There are two parties to a trust - the founder and the trustees, both of whom are signatories to the trust. Beneficiaries...

    [vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column width="2/3"][vc_column_text]One of the benefits of a discretionary living trust is that it is not limited by time, and may continue to exist for as long as it serves its purpose. However, termination may become necessary one day, owing...

    [vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column width="2/3"][vc_column_text]There are some important points that support the rationale for amending a trust deed. An amendment to a trust deed is often required to accommodate important changes or provide for unexpected situations. Examples include: A change of legislation,...

    [vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column width="2/3"][vc_column_text] 1.WILLS Let’s explore some important points when it comes to a will. Anything bequeathed in a will only becomes a reality when you die. A will cannot help, or benefit you. Of course, a will can be amended...

    [vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column width="2/3"][vc_column_text]Caring and providing for one’s children is tough enough as a couple. But, as a single parent, the emotional and financial load increases significantly and the scariest question must be, “What will become of my children if...

    [vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column width="2/3"][vc_column_text]Marriage is a law of contract, not equity. Marriage by Ante-Nuptial contract may, or may not, include accrual. That is for each couple to decide under the direction of an impartial attorney. Either way, it gives each partner...

    [vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column width="2/3"][vc_column_text]Anyone who has faced divorce knows what an ugly, self-serving and humiliating battleground it can become. Regardless of the circumstances surrounding the divorce, much of the settlement depends on the marriage contract. However, clever (and very expensive) legal...

    [vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column width="2/3"][vc_column_text]A discretionary living trust is often referred to as a will substitute. Here are some important distinctions to consider: 1. The Discretionary Living Trust Assets vested in a discretionary living trust are owned by the trust. Hence, when the...

    [vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column width="2/3"][vc_column_text]Regardless of the type of trust, the administration of trusts is governed by the provisions of the Trust Property Control Act 57 of 1988. The Act holds trustees to account for any maladministration or non-compliance. The trustees...

    [vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column width="2/3"][vc_column_text]A living trust is created during your lifetime. Ideally, you should consult a Trust Specialist who has the expertise and knowledge to set up a living trust that suits your needs. The question is, is a Discretionary...