Planning for your future and your family’s future is especially essential during the COVID-19 pandemic. COVID-19 has taught us the importance of being prepared, as the unforeseen may happen to you. Protecting your assets is a necessity for everyone. Protecting your assets and preserving your wealth are important for the future generations of your family. Have you considered setting up a living (inter vivos) trust? Are you thinking about creating an estate plan for yourself? Asset protection is an integral pillar of estate planning. What should you keep in mind when it comes to asset protection? How can you best preserve your wealth for future generations?

Asset protection and trusts:

  • Asset protection is one important benefit of creating a living (inter vivos) trust. A trust that is created and administered properly can help your family to protect assets from potential creditors.
  • Assets that are held in a trust may be protected from claims that arise from matrimonial or relationship disputes.
  • A trust can also be utilized to hold and protect your business or personal assets. Did you know that trusts can also be utilized to hold shares in businesses?
  • A trust will assist you to separate your assets from your business interests.
  • A trust can carry on existing for more than one generation, so your assets are preserved for your family’s benefit.

Consider these useful points about a trust:

  • A trust does protect your children if something happens to you. The trustees of the trust will administer the assets in the trust until your beneficiaries reach legal age.
  • Since the property in the trust no longer falls into your personal estate, it isn’t subject to inheritance tax.
  • Trusts can be utilized to protect the interests of beneficiaries who have limited financial skills.
  • Did you know that a trust is a brilliant vehicle for housing indivisible assets on behalf of many beneficiaries?
  • A trust survives the life of an individual and is able to span many generations, guaranteeing continuity.

As you can see, there are many benefits of having a living (inter vivos) trust created. Estate planning needs to be conducted by a professional. It is necessary for you to get suitable advice from a Trust Specialist when it comes to estate planning, and creating a trust. As a Trust Professional with 40 years of experience, I am highly experienced in trust creation and resolving trust disputes. I can assist you in setting up your living trust. I look forward to meeting with you and explaining the necessity of asset protection and creating a trust.

I am available to meet one-on-one with my clients. I will simplify all the estate planning procedures and discuss any questions you have regarding creating your unique estate plan. Make sure to schedule a consultation with me for all your trust-related matters.

DR MERVIN MESSIAS
JD (Juris Doctor) / BA, LLB (Wits) / TEP (Trust & Estate Practitioner)

Make an appointment with my Executive Assistant, Jutleth Mkhonza. Email julie@mmtrustspecialist.co.za or call +27 (0) 11 783 0108.