Everyone aspires to leave a meaningful legacy, something of value for loved ones or the world at large. However, ensuring that your contributions endure and are protected from being squandered or misused is essential. Research shows that only 10% of accumulated fortunes are successfully passed on to future generations, with the remaining 90% often dissipated by the third generation. Those who work hard for their wealth tend to value and safeguard it, while those who inherit or win it are more likely to spend it carelessly.

Our goal is to help you give your family the best opportunities, both during your lifetime and after. One of the most effective ways to achieve this is through the establishment of family and business trusts. These trusts offer significant legal and tax benefits and are specifically designed to protect your assets and ensure that your wishes are honoured, safeguarding them from creditors and other risks. We will help you control your assets without owning them directly, ensuring your portfolio is safeguarded from creditors. Our focus is on creating the right asset protection strategies and structures, allowing you to minimise taxes during your lifetime and avoid them entirely after your passing. It's all about ensuring continuity and leaving a lasting legacy.

Moreover, we recognise the importance of imparting your values and guidance to your children and grandchildren. Our trust services ensure that your legacy is not just financial but also includes the wisdom and principles you hold dear.

For many, creating such a protective vehicle is unattainable, leaving them with little hope that their assets will be preserved for future generations. Our mission is to change that, providing affordable trust services that ensure your legacy endures, offering your family stability and opportunity long after you are gone.

Advantages of business trusts Asset protection No estate duty on death No capital gains tax (CGT) No executor fees No cost on death administration Income tax flexibility (Conduit principle) Minors and financial dependents will be protected No estate freezing on death Advantages for buy-to-let property Leave a lasting legacy Will become self sustaining over time You cannot be sequestrated

Risks for shareholders Government values entire business on death Business must not operate from date of death SARS does a full investigation Executor gets appointed 4-6 weeks later All assets are added up and liabilities deducted Estate liable for CGT an business value Estate liable for 20% estate duty Executor fees charged at 3.5% of entire value All surety you have signed for must be paid All outstanding taxes must be paid All residual assets are transferred to a testamentary trust

Foster Strong and Effective Communication and Build Trust Between Generations Poor planning and investments are often cited as risks, but lack of communication and trust are the real threats to family wealth and unity. Building trust and effective communication is essential. A trained facilitator can help families improve communication and trust, which are foundational for preserving family assets across generations.

Develop, Maintain, and Regularly Revisit Your Vision for the Present and Future A clear, well-defined vision for the family, often captured in a Heritage Statement, is crucial for preserving and strengthening the family and its assets. This vision serves as a guide for future generations, helping them make both financial and non-financial decisions.

Successful Families Meet Regularly Regular family meetings are vital for building bonds and maintaining unity. These meetings should include family fun, development activities, and discussions on the business of being a family. Professional facilitators can help structure these meetings to reflect the unique needs of the family.

Promote a Balanced Definition of 'Wealth' Wealth is more than financial assets; it includes family, wisdom, community, and financial resources. Teaching children about the broader definition of wealth helps them appreciate the non-material inheritance they receive, such as values, life lessons, and experiences.

Keep the Family Business Separate from the Business of Being a Family Family meetings should focus on activities and projects that inspire individual achievement and build family unity, separate from discussions about family businesses. This distinction helps maintain family harmony and values all family members' contributions.

Identify the Roles Necessary for Family Success Understanding and fulfilling essential family roles is critical for success. Families should ensure that each member knows their roles and the value they bring. Open communication about these roles helps eliminate misunderstandings and promotes a sense of contribution and belonging.

Inspire Individual Family Members to Participate for Their Own Reasons Participation in family activities should be voluntary and meaningful. Each member should find a role that aligns with their passions and interests, ensuring they engage for personal reasons and contribute effectively to family success.

Train and Mentor Each Generation Mentoring and training family members in their roles prepare them for future responsibilities. This can involve pre-inheritance experiences, where children learn about financial and business principles through real-world applications.

Facilitate the Genuine Transfer of Leadership from Generation to Generation Leadership transfer should be intentional and involve preparing family members for leadership roles. This process ensures that each generation is equipped to lead and maintain family unity and wealth.

Require True Collaboration Among Your Professional Advisors A collaborative team of professional advisors across various disciplines is essential for achieving financial goals. True collaboration involves regular, in-depth meetings and a creative, collective approach to planning and decision-making.

Create Mechanisms for Ongoing Family Governance Effective family governance structures help manage family wealth and unity. These structures should include conflict resolution processes and mechanisms for mentoring and supporting family members. Governance plans should be tailored to the family's unique needs.

Act Now for a Successful Family Future Proactive families address these elements without delay, prioritising family unity and success. They understand the importance of investing in their family's future, regardless of external circumstances, and commit to the practices that sustain wealth and unity across generations.

Family Heritage Archive The heritage preservation archive houses your captured personal legacy for the benefit of future generations. To have a look at our example site, click on the link below and when in the page, simply click on the 'SAMPLE' login button and follow each link.

As an independent trustee in South Africa we play a crucial role in the management and administration of your trust. The responsibilities and duties of an independent trustee include:

Independent trustees are often chosen for their expertise, impartiality, and the ability to bring a professional perspective to the trust's administration, ensuring that it operates smoothly and effectively in the interests of all beneficiaries.

Setting up a business trust for shareholders involves navigating a range of legal, administrative, and financial complexities. We need to determine the appropriate trust structure, draft a comprehensive trust deed, and ensure compliance with all relevant regulations and fiduciary duties. Administratively, we'll handle meticulous record-keeping, meet reporting requirements, manage trust assets prudently, and maintain clear communication with beneficiaries. Financially, we'll make strategic funding decisions, structure the trust in a tax-efficient manner, ensure fair profit distribution, and regularly value assets. Additionally, we'll align the trust's purpose with your business strategy and integrate it into existing shareholder agreements, while also planning for potential exit scenarios.

Also, there may very well be some assets that fall outside of this trust arrangement that you didn't transfer to the trust. These assets fall into your personal estate and will be subject to estate administration costs when you pass away. However, there is a wonderful solution in that our myPRO estate services can be used for this event which gives your family the advantage of inheriting much more because there are no estate administration costs imposed. Look at the Legal & Estate services for more information.

Engaging our expertise in legal, financial, and tax matters is essential to address these complexities and ensure the trust is established and operated successfully.

We are unwaveringly devoted to the financial well-being of our members, and our dedicated team is poised to provide expert guidance on your financial journey, empowering you to plan your life with unwavering confidence and wisdom. Our mission is to position ourselves as a premier membership organisation committed to safeguarding your distinct family legacy, founded on bespoke financial and legal principles.



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