Which type of trust to choose - A testamentary trust or a living trust?

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When people seek estate planning advise, they may be advised to consider a trust. However, people are advised to avoid the hassle of having a trust whilst they are alive (an inter vivos trust) and to rather have a trust registered upon their death (a testamentary trust).

How a trust fits into your estate plan

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If you knew you were going to die tonight, would you know what the Estate Duty implications would be in your estate? Would there be enough cash or liquidity in your estate to pay the different costs that would arise? Are your assets as a business owner protected? Have you made sufficient provision for your old age?

Will I lose control over my assets moved into a trust?

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Many people are wary of trusts because they may be concerned that they will lose control over their assets. This fear is often enhanced by professionals advising that clients should not be seen to be involved in their trusts’ administration.

Should I have a trust: Yes or No?

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Trusts are certainly not for everybody. When you consider a trust as part of your estate plan, you need to be mindful of both advantages and disadvantages thereof, as well as your personal circumstances and wishes.

What exactly is a trust?

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Why are so many trusts in trouble? When people are advised to structure their assets in trust, they are often not informed about the uniqueness of a trust as an estate planning vehicle.