Last week we examined the requirements for setting up Minor’s Trust. This week we take it further, looking at Dependent Trust. Your dependents are people who materially rely on you for financial support and may include your children, aged parents, less privileged individuals and/or incapacitated adults (who you desire to cater for) and who require resources for health, ...
 February 5th, 2010
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A Minor is a person who has not attained the age fixed for entering into a legal contract or for making himself legally liable for his actions. Therefore, a Minor is a child. Whilst as a parent, you may wish to provide for your children financially, you may not want them to have access to the money as your children ...
February 5th, 2010
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Having come this far, we believe its time to address the issue of choosing a Trustee for your Estate Plan. Selecting a Trustee can very complicated and you will not generally find individuals ready and willing to assume these fiduciary responsibilities, even where cost is not an issue. Remember that the Trustee is responsible for distributing assets to beneficiaries and ...
February 5th, 2010
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Estate Planning can be quite exciting especially if you know what to do. The need to consider where your money would go, who will raise your children and what your children will want to do with their
inheritance is equally of paramount interest. Remember that it is what you do not know that can get you into trouble. Here are ...
February 5th, 2010
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While not necessarily a pleasant task, Estate Planning is necessary for the smooth transfer of your wealth to your loved ones. While proper planning will help reduce the amount to be paid as tax by those you are leaving your assets, it ultimately helps to avoid confusion amongst your loved ones when you are no longer there.
By avoiding ...
February 5th, 2010
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We established in our previous write ups that Estate planning is one of the most important steps you can take to ensure that your wishes, as it relates to the distribution and use of your assets, are honoured and that your loved ones are adequately provided for in your absence. So the big question is - In this edition, we ...
February 5th, 2010
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Summary from last week
No matter your networth, you need a basic estate plan in place - this will help you and your family meet your financial goals.
An estate plan has several elements including but not limited to a Will, an assignment of a power of attorney, and a Trust.
Taking inventory of all your assets ...
February 5th, 2010
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Few people talk about death or even tell relatives about the inheritance that would be due to them after they pass away. The truth is that death is inevitable and is usually a very traumatic experience for the deceased’s family, friends and loved ones. If a person leaves behind a poor estate plan or no plan at all, the effect ...
February 5th, 2010
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In this issue, we will attempt to answer some of the questions raised by those who read the first article: “Michael Jackson: Here Is Why You Should Have A Trust”. We reiterate once more that one of the easiest and best ways of protecting your assets is by setting up a Trust.
Types Of Trust
Trusts can broadly be classified ...
December 29th, 2009
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According to reports, Michael Jackson (M.J) left almost half of his assets in a Trust to his three children. The acclaimed King of Pop insisted that 40% of his estate goes to his kids, Prince Michael, age 12, Paris age 11 and Prince Michael II, age 7. A further 40% of his Trust goes to his mother Katherine, while the ...
December 29th, 2009
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