Fanus Kruger Consulting (Pty) Ltd trading as FKC. FSP nr. 29615
Authorised Financial Service Provider
Reg. No.:2015/324537/07
Succession Planning
Succession planning helps ensure that your dependents are provided for and your financial affairs are managed efficiently after your death. Your last will and testament is essential for this process.
Your Last Will & testament
Before finalizing your will, consider:
- The amount of cash available in your estate
- Whether it is sufficient to distribute as planned
- The impact on beneficiary nominations on policies and retirement funds
The primary objective is to distribute your estate according to your wishes. Additional considerations may include estate duty, efficient administration, and protection of assets from creditors and mismanagement. Trusts can be used to address some of these concerns.
Trust Services
An intervivos trust (living trust) is established in your lifetime. The founder (donor or settlor) can be the person who establishes the trust or the person who settles (provides) assets to a trust. The trustees of an intervivos trust manage the trust’s assets for the benefit of beneficiaries. The trustees have discretion over how the assets are managed, but must do so in the best interests of the beneficiaries.
Reasons for establishing a trust include:
- To honour maintenance commitments in terms of a divorce order and settlement agreement
- Providing for a disabled dependant or aged parent
- Protecting and preserving assets for the next generation
- Serving as a holding vehicle for your assets as part of your estate planning structure
- Providing a regular income for your favourite charities (Public benefit organisations)
- Providing for the dependants of a deceased employee