Experience has shown that when one forms a Trust it is often not used to best effect purely because the Trustees do not know how to use it.
The reason is that when the Trust is formed all that is given to the Trustee or client is the Trust Deed.
At Integrated Estate Planning we are not in the business of just forming Trusts but like to get involved in your entire Estate Planning.
We therefore do the following for our Clients:
Form the Trust or a number of Trusts depending on requirements
Do or Redo your Will to dovetail the Trust.
Your Will needs to take into account your attitude to either Estate Duty or Asset Protection, which one is of most concern to you?
Agreements of Sales and Donations
We would move all your Personal Assets into the Trust via agreements of Sales and Donations. i.e. Household Furniture, Time Share, Unit Trusts, Shares, Cash etc
A Full Liquidity Analysis
This Analysis looks at what Liquidity you have in your Estate to not only pay for your Death Bed Expenses like Estate Duty, Capital Gains Tax and Executors Fees but also how much Cash or Assets are there in your Estate in order to create sufficient Income for your family.
You would receive an Instruction Manual on exactly how to use the Trust. i.e. we give detailed instructions on how to draw up Resolutions as well as how to Buy or Sell Assets in the Trust. How to open Banking Accounts as well as what to do when replacing Trustees.
All our clients have access to Professional Advice at night and on weekends with regards not only the Trust but any aspect of your Estate Planning. i.e. if you are purchasing a Property on Saturday afternoon you must get advice on Saturday afternoon and not have to wait until Monday morning. See attached “Phone for Advice Page”
The reason we do all the above is because of the following:
An Attorney will form a Trust for you, however in 99% of the cases they will not get involved in your Tax restructuring or have a look at what Liquidity there is in your Estate.
An Accountant normally only looks at your affairs from a Tax point of view. He does not look at what Liquidity there is in your Estate to pay for your Death Bed Expensed or look at restructuring your affairs from a Legal point of view
The Financial Planner only looks at what Liquidity there is in your Estate to pay for your Death Bed Expenses but does not get involved in restructuring your affairs from a Legal or Tax point of view.
At Integrated Estate Planning all of the above is done simultaneously to provide you what we call “Total Estate planning.”