Drawing Testamentary and Intervivos Trusts

Trust creation (Testamentary and Inter Vivos) has become the catchphrase in estate planning. Trusts, both testamentary and inter vivos, are excellent ways of protecting your assets but can also be rife with problems when inexpert advice is taken.

At M. P. Lutge Incorporated’s head office in Durban, we are able to assist you throughout the country in taking advantage of the following benefits to your Testamentary and Inter Vivos Trust’s creation:

Testamentary (Will) Trusts

  1. can provide better management and control of assets
  2. protection of the assets for beneficiaries (for example, where there are minor children)
  3. can provide a surviving spouse with the right to assets whilst ensuring your heirs receive the estates residue;
  4. Testamentary trust established for minor children or for incapacitated dependants are treated with compassion by the tax authorities in that they are subject to the ordinary tax rates that apply to individuals, but without rebates.

Inter Vivos (or Living) Trusts

  1. allows for true estate planning (management and control of your assets after you die – you can rule from the grave);
  2. asset growth occurs in the trust, and not in your own estate, limiting the net value of your estate and the amount of estate duty you pay (assets are held by the trust and not by you);
  3. tax planning;
  4. allows for the ongoing management of your assets, including contractual arrangements, which is particularly useful in a business arrangement where value could be lost by selling off a business share;
  5. protects assets from creditors;
  6. assets are protected against spendthrift children;
  7. protects a vulnerable spouse and minor and/or vulnerable children, particularly if a child is incapacitated in some manner;
  8. assures quick access to income and capital;
  9. allows for multi-ownership of assets (such as a business, a farm or other property)
  10. allows for confidentiality (on ones death their will become a public document but a trust does not thus remain confidential)
  11. can be cost saving (no fees or costs of winding up an estate)

Trust creation (Testamentary and Inter Vivos) is one of our expert legal team’s specialities. At M. P. Lutge Incorporated we ensure that your Testamentary and Inter Vivos Trusts are problem free, easy to manage, and created in a way that gives you, and your loved ones, the greatest financial benefit by drawing on our founder’s, Malcolm Patrick Lutge’s, three decades of experiences and practical expertise.

Though Mr. Lutge has been practising in Durban for over thirty years he has, during that period, managed to create a network of professional and proficient Testamentary and Inter Vivos Trust creation specialists who can attend to your bail application immediately anywhere in South Africa.

Contact our Durban head office from anywhere in South Africa for legal assistance with Trust Creation (Testamentary and Inter Vivos).