Monthly Archives: August 2014

Trusts and examples of trusts: what they are and how they work

Trusts and examples of trusts: what they are and how they work

For advice on Trusts and Fiduciary services, click here.

What are Trusts?

A trust is a legal relationship between people, dictating the distribution of assets between them. Trusts are most commonly used to separate assets from your Estate, offering them protection from creditors and stipulating how they are administered. Since Trusts are a separate legal entity from the Trust owner, they do not form part of the deceased’s Estate upon death. Thus, they are a great way to ensure the survival of your assets.

Aside from protecting your assets, Trusts come with a variety of different uses:

  • The honouring of maintenance commitments in terms of a divorce orders and settlement agreements.
  • Providing for disabled dependants and aged parents.
  • Protecting and providing assets for following generations.
  • Serving as a holding vehicle for assets as part of an estate planning structure.
  • Providing a regular income for favourite charities and other PBO’s.
  • Providing for the dependants of a deceased employee.

Examples of Trusts

Your children’s future

Every parent wants to see their children grow up to be successful and planning for future education is one of the best gifts you can give them. Your child will one day need to go to university and become an adult. The best way of ensuring their success is setting up a Trust fund which pays out when your child leaves school, to cover their university costs, and perhaps once they leave university: to cover their cost of living for a few years.

Divorce

You can set-up a trust to pay your former spouse on a month-to-month basis or lump sums yearly. You can include cost of living expenses and education expenses for your children as part of this too. Divorce is always unexpected and often comes with maintenance commitments to see your former spouse through a tough time in their lives: setting up a trust ensures that they are covered, with minimal risk and energy expended on your part.

Trusts have a variety of applications, exceeding those mentioned above- get in touch with us now and get your very own Trust!

 

Trust and Fiduciary Services: creating your Trust for asset protection

Trust and Fiduciary Services: creating your Trust for asset protection

Many people fear the possibilities involved in creating and growing their wealth and how it will be distributed following their death. These possibilities can include: Creditors ceasing your assets Your family becoming bankrupt Your heirs spending their inheritance unwisely Luckily, within Trust and Fiduciary services, you will be able to create a Trust for assetContinue Reading

Trust and Fiduciary Services: ever wanted to know happens to your Estate if you don’t leave a Will?

Trust and Fiduciary Services: ever wanted to know happens to your Estate if you don’t leave a Will?

Many South African’s remain ignorant of the possible ramifications of not drafting a final Will and Testament. Not drafting a Will, in the proper legal manner, can result in: The government allocating your Estate to the parties it stipulates to be most fitting, irrespective of your intentions Familial disputes over who gets what According toContinue Reading

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Crest Trust Services (PTY) Ltd. is an Authorized Financial Service Provider with FSB No: 28966