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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    Tips For Blended Families

     

    Tips For Blended Families

    Home > News Feed  > Tips For Blended Families

    14 Nov Tips For Blended Families

    Posted at 12:43h in News Feed, REGULATIONS by
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    Getting remarried is a joyous occasion for many people. Remarrying can often bring you a lot of happiness. However, being in a blended family can sometimes be complicated. This article explores some essential estate planning tips for blended families. Read on to learn more.

    What should you know about a blended family?

    What exactly is a blended family? A blended family consists of you, your partner, as well as the children from one or both of your prior relationships. Creating a blended family can be exciting yet there are some challenges too. Your children might not like your new spouse.

    Take a look at these important estate planning tips.

    • Spouses who have blended families need to talk about how they are going to leave their individual assets. This is quite useful for you to keep in mind when it comes to your own blended family.
    • When it comes to your estate planning, you need to be thinking holistically.

    Estate planning is vital for families.

    Creating an estate plan for your blended family is so necessary. Before you can even create an estate plan, you need to decide what your goals are. You have to take note of the following:

    • Think about issues like inheritance. Which people in your blended family will inherit your assets after you pass away? Will it be your spouse or your children? This is an issue that you have to consider.
    • Consider the possibility of incapacitation. If you become incapacitated later on in your life, your spouse and your children may want to make decisions for you. Make sure to select one party who is going to have power of attorney.
    • Do you have minor children? Someone needs to look after your minor children after you pass away. Will it be your current spouse or your children’s biological parent? It is up to you to decide who should look after your minor children.

    These estate planning tips for blended families are really useful! Make sure to create an estate plan for your blended family. Having an estate plan can be beneficial for any family, especially a blended family.

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